India’s retail inflation remained steady around the 7% mark for second consecutive month.
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Jul 12, 2022
Jun-22 CPI - Stubborn and steady
India’s retail inflation remained steady around the 7% mark for second consecutive month. Despite headline inflation remaining stubborn at elevated levels, we find pockets of comfort with moderation in sequential price pressures across key items of food, fuel, and core. Going forward, we expect improvement in monsoon performance and recent softening in global commodity prices to offset upside risks from currency weakness. As such, we retain our FY23 CPI inflation forecast of 6.5%.