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India Consumer
India’s Consumer Price-based inflation rose to 5-month high of 5.00% in June compared to 4.87% a month prior. Core CPI accelerated to 6.45% in June from 6.18% a month ago.
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Wholesale inflation rose
Wholesale inflation rose to a 4 year high of 5.77% in June compared to 4.43% a month prior led by inflationary pressures from food and fuel items. Consequently, core WPI inched up to 4.76%, as compared to 4.40% in May,18.
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Growth in India
Growth in India’s Index of Industrial Production (IIP) slowed to 3.2% in May as against 4.8% in the previous month. Nonetheless, broad based sequential uptick was witnessed with Mining at 4.6%, Manufacturing at 4.5% and Electricity at 7.2%
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In its Third
In its Third Bi-monthly Monetary Policy Meeting, MPC-panel raised the policy repo rate by 25 basis points to 6.5% while maintaining neutral stance. Consequently, reserve repo rate stands at 6.25% while marginal standing facility (MSF) rate stands at 6.75%.
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Inflation inclusive
Inflation inclusive of HRA impact is projected at 4.6% in Q2, 4.8% in H2 FY19 (4.7% previous) and 5% in Q1 FY20. Growth projection for FY19 was maintained at 7.4% ranging7.5%-7.6% in H1 FY19 and 7.3%-7.4% in H2 FY19.
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