WPI inflation at -1.36% in July, stays in negative for fourth consecutive month
Inflation likely rose to 6.50% in July; can a fresh spike in retail inflation upset the market? Last week, the Reserve Bank of India (RBI) raised the CPI inflation targets to 5.4 per cent for FY24 versus an earlier projection of 5.1 per cent. Headline inflation projection for Q2 of 2023-24 has been revised up substantially, primarily due to the price shock from vegetables.
RBI Governor Shaktikanta Das emphasised RBI remains focused to achieve an inflation target of 4 per cent for a longer period. He said that amid challenges in the global economy, India has managed to keep inflation under control.
Read more: RBI monetary policy: Does revision in inflation projection mean no rate cut coming in 2023? Disclaimer:The views and recommendations above are those of individual analysts and broking companies, not of Mint. We advise investors to check with certified experts before taking any investment decisions.
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