India's retail inflation accelerated to a 4-month high of 5.52% in Mar-21 led by sequential jump in fuel prices.
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Apr 13, 2021
India CPI: Fueling ahead in March
India’s CPI inflation accelerated to a 4-month high of 5.52% YoY in Mar-21 from 5.03% in Feb-21 led by sharp sequential jump in fuel prices. Meanwhile, sequential price pressures in case of food and core inflation were seen to be tepid. We continue to expect CPI inflation to moderate towards 5.0% in FY22 from 6.2% in FY21 as gradual normalization from past COVID disruptions and expectation of normal monsoon/ bumper harvest would offset the upside emanating from higher global commodity prices.