Friday, 12 May 2017

India's April retail inflation seen easing to three-month low

India's consumer inflation is expected to have eased to a three-month low in April, helped by smaller rises in food prices, but with a summer rebound in prospect the Reserve Bank of India (RBI) is likely to keep interest rates on hold. The RBI's Monetary Policy Committee (MPC), which has a mid-term inflation target of 4 percent, maintained its hawkish stance on inflation, with most members expressing concern over upside risks to core inflation. Consumer prices, the RBI's main policy target, likely rose 3.49 percent in April, according to a Reuters poll of economists, compared with an increase of 3.81 percent in March. Data on the consumer price index, wholesale price index and industrial output will be released around 1200 GMT Friday. Economists expect the central bank to keep its policy rate unchanged this year.


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