Wednesday, Sep 27, 2023
English News
  • Hyderabad
  • Telangana
  • AP News
  • India
  • World
  • Entertainment
  • Science and Tech
  • Sport
  • Business
  • Rewind
  • ...
    • NRI
    • View Point
    • cartoon
    • Columns
    • Education Today
    • Reviews
    • Property
    • Videos
    • Lifestyle
E-Paper
  • NRI
  • View Point
  • cartoon
  • Columns
  • Reviews
  • Education Today
  • Property
  • Videos
  • Lifestyle
Home | Business | Inflation In India To Be About 5 By March 23

Inflation in India to be about 5% by March 23

Chennai: The State Bank of India (SBI) expects the inflation in India to be about five per cent by March 23. In a research report, the SBI also said the 7.01 per cent consumer price index (CPI) inflation announced by the Indian government on Tuesday for June 2022 confirms the fact that the peak point has […]

By IANS
Published Date - 01:45 PM, Wed - 13 July 22
Inflation in India to be about 5% by March 23
Representational Image.
whatsapp facebook twitter telegram

Chennai: The State Bank of India (SBI) expects the inflation in India to be about five per cent by March 23.

In a research report, the SBI also said the 7.01 per cent consumer price index (CPI) inflation announced by the Indian government on Tuesday for June 2022 confirms the fact that the peak point has passed.

According to the SBI report, CPI inflation attributable to supply side factors started moving up after September’21 while demand led CPI remained more or less constant.

“The two have been moving together post February’22 (since the starting of Russia-Ukraine conflict). However, in the recent months demand led CPI inflation has moved up a bit, while supply led CPI inflation continues to moderate,” the SBI said.

Clearly, the RBI may have to raise rates further though, the clear downward trend in inflation attributable to supply side factors bodes quite well for inflation trajectory going forward, the report added.

The core inflation has trended down from its peak in April (taking last 12-months as reference period).

The moderation is on account of fall in contribution of transport and communication from 1.7 per cent in April to 1.1 per cent in June.

The fall in core CPI largely the product of fall in demand owing to lagged effect of high inflation in the past months.

Further correction in prices of precious metal around April has contributed to correction in personal care and effect.

With major states such as Maharashtra which contribute 100 bps to All India CPI (95 bps in June) expected to announce cut in VAT on fuel, it is expected that core may correct further as pass through of fuel will happen in subsequent months along with correction in global prices of commodities, the SBI said.

On the Index of Industrial Production (IIP) that showed about 20 per cent growth, the bad news is that in Q1FY23, new investment announcement declined by around 27 per cent to Rs 4.35 lakh crore as compared to Rs 5.99 lakh crore in Q1FY22 and Rs 5.75 lakh crore in Q4FY22, the SBI said.

Telangana Today Whatsapp
  • Follow Us :
  • Tags
  • India
  • Inflation

Related News

  • Awaken the nation, initiate a movement: PM Modi to YouTubers

    Awaken the nation, initiate a movement: PM Modi to YouTubers

  • 3rd ODI: Indian middle-order crumbles as Australia record consolation win

    3rd ODI: Indian middle-order crumbles as Australia record consolation win

  • India vs Australia 3rd ODI Highlights: Bumrah Took 3-Wicket Haul After Australia Dominated Him

    India vs Australia 3rd ODI Highlights: Bumrah Took 3-Wicket Haul After Australia Dominated Him

  • India vs Australia 3rd ODI Highlights: Steven Smith Hits Half Century

    India vs Australia 3rd ODI Highlights: Steven Smith Hits Half Century

  • India vs Australia 3rd ODI Highlights: Marnus Labuschagne Half Century

    India vs Australia 3rd ODI Highlights: Marnus Labuschagne Half Century

  • India may import cheetahs from northern Africa, say officials

    India may import cheetahs from northern Africa, say officials

Latest News

  • US, UK and Bangladesh top three source countries for FTAs in India in 2022: Official data

    1 min ago
  • UP: Man beaten up on NAS College campus in Meerut for ‘making video’

    28 mins ago
  • AIADMK splits party districts

    16 mins ago
  • Celebrate Ganesh immersion, Milad Un Nabi in harmony: CM KCR

    57 mins ago
  • Hyderabad: Four arrested for cheating businessman of Rs 3 crore

    1 hour ago
  • SC stays defamation proceedings against Union MoS L Murugan

    1 hour ago
  • Google Celebrates It’s 25th Anniversary | Google Journey | Google History | Telangana Today

    1 hour ago
  • RBI cancels licence of Kapol Cooperative Bank in Mumbai

    1 hour ago

company

  • Home
  • About Us
  • Contact Us

business

  • Subscribe

telangana today

  • Telangana
  • Hyderabad
  • Latest News
  • Entertainment
  • World
  • Andhra Pradesh
  • Science & Tech
  • Sport

follow us

© Copyrights 2022 TELANGANA PUBLICATIONS PVT. LTD. All rights reserved. Powered by Veegam