India Economy Watch - CPI Inflation Cools More Than Expected In August: Motilal Oswal
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Motilal Oswal Report
The headline Consumer Price Index eased to four-month lows of 5.3% YoY in August 2021, far below the Bloomberg consensus and our expectation of 5.6% (similar to that in July 2021).
In the first five months of FY22, headline inflation averaged 5.5% – versus 6.6% in the corresponding period last year and an average of 4% in the corresponding period in the previous five years.
Almost the entire deceleration in headline inflation was on account of ‘vegetables’, which witnessed deflation of 11.7% YoY last month.
Consequently, food inflation also came in at four-month low of 3.1% YoY, compared with 3.9% in July-21 and our expectation of 3.8%.
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