Indian retail inflation likely rose to a near six-year peak in January as food p...
BENGALURU - Indian retail inflation likely rose to a near six-year peak in January as food prices stayed high, according to a small majority of economists in a Reuters poll, which may persuade the central bank to keep interest rates on hold in the coming months.
The Feb. 5-7 poll consensus of more than 40 economists showed India’s annual consumer price inflation is expected to have risen to 7.40% in January, a touch above December’s 7.35% and the highest since May 2014. The RBI kept its repo rate unchanged at 5.15% on Thursday, despite slowing growth, and revised up its inflation projections, estimating it would range between 5.0% and 5.4% in the first half of the upcoming fiscal year.
“Weekly data indicate that vegetable inflation has peaked, but remains very high. And supply constraints have also caused milk producers to raise prices.”
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