Retail inflation cools to 4.3 per cent in September 2016
DSIJ Intelligence / 13 Oct 2016
Consumer Price Index (CPI) eased to 4.3 per cent in September 2016 from 5.05 per cent in August 2016, on account of decline in prices of vegetables and pulses.
Consumer Price Index (CPI) eased to 4.3 per cent in September 2016 from 5.05 per cent in August 2016, on account of decline in prices of vegetables and pulses. The retail inflation is at a 13-month low. Service inflation was declined to 4.5 percent. The food inflation was 3.88 per cent last month, much slower than 5.91 per cent recorded in August.
The newly appointed monetary policy committee cut the policy rate by 0.25 per cent points earlier in October. Reserve Bank of India (RBI) governor Urjit Patel had clarified that the inflation target was 4 per cent (plus/minus 2 per cent) over five years and not by early 2018. The ease in inflation creates more room for the RBI to cut rates during upcoming future term.
As inflation data for the month of September has cooled down, it is positive news for capital markets for Friday’s session. There will be positive opening on October 14 and the entire session will be positive.
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