Retail inflation eases to 5.72% in Dec; IIP growth rebounds to 7.1% in Nov
Live MintIndia's retail inflation rate eased down edged down from the previous month, staying within the Reserve Bank of India's comfort range of 2%-6% for a second month, data released by the Ministry of Statistics & Programme Implementation showed on Thursday. Aditi Nayar, Chief Economist, ICRA, said: "We expect the core inflation to remain elevated in Q4 FY2023, given the continued pass-through of higher input costs by producers and sustained robust demand for services." "We caution that the CPI inflation for January 2023 may print at ~5.8-6.0%, slightly higher than the levels seen in December 2022, given the stickiness in core inflation and an unsupportive base for food inflation," Nayar added. However, core inflation continues to remain elevated and sticky," said Upasna Bhardwaj, Chief Economist of Mumbai's Kotak Mahindra Bank.