The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) could consider a rate cut in February if food inflation declines in January, says a report by ICICI Bank.
India's retail inflation in November was at 5.48 per cent as compared to 6.21 per cent logged in October, falling in line with the Reserve Bank of India's 2-6 per cent comfort band.
The annual rate of inflation based on all India Wholesale Price Index (WPI) number is 2.36 per cent (provisional) for the month of October, 2024 (over October 2023).
India's retail inflation rose to a 14-month high of 6.21 per cent in October, up from 5.49 per cent in August. On the back of rising vegetable prices food inflation galloped and rose in double digits for the first time in fifteen months to 10.87 per cent from 9.2 per cent in the previous mon
The interest rate cut by Reserve Bank of India (RBI) is unlikely in February due to the persistent inflation, SBI Research stated in its latest report, adding that a slight easing in inflation is expected starting in January.
The continued spurt in food prices and fading of the high base effect likely led to a spike in October retail inflation figures. According to a report by the Union Bank of India, retail inflation based on the Consumer Price Index is seen jumping to 6.15 per cent, breaching RBI's 6 per cent t
The soaring figures of retail inflation in September could force the Reserve Bank of India (RBI) to continue with neutral stance for a longer duration, stated SBI research, adding that "first rate cut could be based on growth, and need not be inflation."
India's Consumer Price Index (CPI)-based inflation rate for September reached 5.49 per cent from 3.65 per cent in August, reflecting an uptick primarily due to higher food prices
The softening of retail inflation has started reflecting in the food plates, as the cost of both vegetarian and non-vegetarian thalis (full meals) saw a notable drop in August 2024 compared to the same time last year and the previous month, CRISIL MI&A Research noted in its latest report