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ICICI Securities Report
Consumer Price Index inflation has remained above the upper limit of Monetary Policy Committee’s target range of 6% since December 2019, with the sole exception of March 2020.
The latest inflation print for November 2020 came in at 6.93%, surprising us and the street on the lower side.
Despite the lower-than-expected number, CPI inflation in the first nine months of FY21 now stands at 6.9%.
Persistently high inflation has led to concerns that it could cause generalisation of price pressures.
Recently, the Reserve Bank of India also warned that generalised inflationary pressures pose a serious threat to evolving macroeconomic outlook.
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