CPI Inflation - Fuel, Transport, Oil, Fats Remain Major Inflation Driver In June: ICICI Direct

A fuel pump nozzle in a vehicle gas tank. (Photographer: Luke Sharrett/Bloomberg)

CPI Inflation - Fuel, Transport, Oil, Fats Remain Major Inflation Driver In June: ICICI Direct


BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Direct Report

Consumer price index inflation came in lower than market expectations at levels similar to last month’s 6.26% in June 2021 compared to 6.30% in May 2021.

Consumer food price index rose marginally on expected lines at 5.15% against 5.01% in May.

Core inflation surprised with lower growth at 6.14% versus 6.43% despite a rise in crude oil prices.

While there was a month-on-month rise in many items, a favourable base effect prevented the rise in inflation print.

Within food, oil and fats remain the major contributor as its sequential price rise continues.

Prepared meals, snacks, sweets items also saw higher inflation, which continued to rise sequentially.

Click on the attachment to read the full report:

ICICI Direct Inflation.pdf


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