Motilal Oswal: CPI Inflation Exactly In Line With Expectations; WPI At Nine-Month High In November
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Motilal Oswal Report
Exactly in line with our expectations, but below market consensus of 7.2% YoY, headline inflation came in at 6.9% YoY in November 2020, against 7.6% in October 2020 and 5.5% in November 2019.
Food inflation stood at a three-month low of 9.4% YoY in November 2020, vis-a-vis 11% in October 2020 and an average of 10% since the start of FY21.
Vegetables, which clocked more than 20% inflation during Sept-Oct 2020, came in lower at 15.6% YoY in November 2020.
As a result, Consumer Price Index inflation, excluding vegetables, also came in lower at 6.2% YoY in November 2020 from 6.4% in October.
Separately, Whole Price Index based inflation rose to 1.6% YoY in November 2020 from 1.5% in October 2020 and 0.6% in November 2019.
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