A poll of 20 economists by Mint predicted that retail inflation in India fell to a 15-month low of 5.7% in March, after exceeding the central bank’s upper tolerance limit of 6% in January and February. The decline in inflation is anticipated to provide some respite to the central bank, which surprised the markets last week by leaving interest rates unchanged.
The March inflation rate for consumer prices is expected to be released on Wednesday.
The polled estimates ranged from 5.4% to 6.4%, but with the exception of one economist who predicted a figure of 6.4%, all others predicted a figure below 6%. Inflation will have declined within the Reserve Bank of India’s (RBI) inflation target range for only the third time in the year 2022-23, if the median forecast holds true.
A poll of 20 economists by Mint predicted that retail inflation in India fell to a 15-month low of 5.7% in March, after exceeding the central bank’s upper tolerance limit of 6% in January and February. The decline in inflation is anticipated to provide some respite to the central bank, which surprised the markets last week by leaving interest rates unchanged.
The March inflation rate for consumer prices is expected to be released on Wednesday.
The polled estimates ranged from 5.4% to 6.4%, but with the exception of one economist who predicted a figure of 6.4%, all others predicted a figure below 6%. Inflation will have declined within the Reserve Bank of India’s (RBI) inflation target range for only the third time in the year 2022-23, if the median forecast holds true.