Data Preview - CPI inflation Likely To Ease In April; WPI To Increase To Series-High Of 11%: ICICI Securities
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ICICI Securities Report
We expect headline consumer price index inflation to ease to three-month low of 4.15% in April 2021, after remaining above 5% during February-March 2021 due to unfavourable base effect.
Lower food inflation is likely to drive the deceleration in headline CPI.
Although prices of pulses and oilseeds recorded sharp increases during April 2021, vegetable prices have eased.
We expect services inflation to ease in sequential terms despite tighter lockdown restrictions in many states.
Unlike the easing trend in retail inflation, wholesale inflation is expected to rise to series-high of 11% in April 2021.
In line with past few months’ trend, metal prices are expected to drive the increase in wholesale inflation.
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