CPI Inflation At Four-Month High In March; IIP Contracts Faster In February: Motilal Oswal
Vegetables displayed for sale at street stalls outside the Dadar wholesale vegetable market during a weekend lockdown in Mumbai, India. (Photographer Dhiraj Singh/Bloomberg)

CPI Inflation At Four-Month High In March; IIP Contracts Faster In February: Motilal Oswal

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Motilal Oswal Report

Consumer price index-based retail inflation came in at a four-month high of 5.5% YoY in March 2021 (versus 5% in February 2021 and 5.8% in March 2020).

This number is marginally higher than both our forecast and market consensus of 5.4%.

With this, CPI inflation in FY21 came in at 6.2%, a seven-year high.

Additionally, index of industrial production declined 3.6% YoY in February 2021 versus a fall of 0.9% YoY in January 2021.

The number was worse than both our expectation and market consensus of -3% YoY in February 2021.

Notably, IIP numbers for November 2020/January 2021 were revised from -2.1%/-1.6% to -1.6%/-0.9% YoY.

Click on the attachment to read the full report:

Motilal Oswal CPI-IIP Update.pdf

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