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Consumer Inflation, January 2021: Retail inflation in January eased to 4.06 per cent due to a decline in vegetable prices, according to government data released on Friday ....
A private survey showed cost prices rose across the manufacturing and services sectors The country s retail inflation slipped marginally in January but was within the Reserve Bank of India s target range for a second month as vegetable prices declined further, a Reuters poll predicted. The February 5-9 poll of 50 economists showed retail inflation fell to 4.45 per cent in January from December s 4.59 per cent. If this holds true, inflation would be its lowest since October 2019 and within the RBI s target zone of two per cent - six per cent. It stayed stubbornly high last year amid the coronavirus pandemic and breached the range for eight continuous months from April. Inflation was expected to ease in January led by correction in vegetable prices, said Sakshi Gupta, senior economist at HDFC Bank. ....
The Reserve Bank of India (RBI) is unlikely to further ease the interest rates in the next meeting of its Monetary Policy Committee even though retail inflation declined in December 2020, a report by Motilal Oswal Institutional Equities said. The Ecoscope report noted that the central bank is likely to continue with its calibrated approach towards the management of domestic liquidity. It is for the first time since the COVID-19 pandemic began that the CPI inflation has come within the RBI s target inflation range of 2-6%. What remains to be seen is if the downward trajectory in food prices continues during CY21. In any case, we do not expect any further monetary easing and the RBI is likely to continue to manage domestic liquidity in a calibrated manner, it said. ....