CPI Inflation At Three-Month Low In April; IIP Grew 22% In March On Low Base: Motilal Oswal
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Motilal Oswal Report
Consumer price index-based retail inflation came in at a three-month low of 4.3% YoY in April 2021 (versus 5.5% in March 2021 and 7.2% in April 2020).
This number is lower than our forecast of 4.6% YoY and higher than Bloomberg consensus of 4.1% YoY.
Food inflation (CPI weight: 39.1%) came in at a three-month low of 2% YoY in April 2021 as against 11.7% YoY a year ago and 4.9% in March 2021.
Additionally, Index of industrial production grew 22.4% YoY in March 2021 supported by a low base.
The number is in line with our expectations and higher than Bloomberg consensus of 20% YoY.
With this, IIP in Q4 FY21 stood at 12-quarter high of 5.3% YoY.
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