Summary:

According to a Reuters poll, Indian consumer inflation is expected to remain below the Reserve Bank of India's 4.0% target in August, at 3.50%, due to reduced food prices and last year's high base.

Chief Economic Advisor at Union Bank of India, Ms. Kanika Pasricha, highlighted that while recent monsoon improvements have eased food prices, erratic weather could affect crop yields and drive prices higher. Economists expect inflation to average 4.2% this quarter and rise to 4.5%-4.7% in subsequent quarters, potentially leading to a delay in RBI rate cuts. Core inflation for August is projected at 3.30%, with wholesale price index inflation easing to 1.85%.

Source: IBEF

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