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With inflation inching closer to the Reserve Bank of India’s medium-term target of 4.0%, monetary policy makers may continue to hold the policy repo rate unchanged to reduce the risk to growth.
The year-on-year (YoY) growth in the index of industrial production (IIP) eased to a lower-than-expected 1.1 per cent in March 2023 from the revised 5.8 per cent in February 2023 , , unseasonal rains, base effect, IIP Growth, icra, report
A favourable base effect is expected to drag down retail inflation below 5 percent for the first time since November 2021, according to a Moneycontrol survey. And for the second month in a row, a favourable base effect will likely be the strongest driver of disinflation
Twenty of the 23 economists in the poll see inflation falling below 5%, and three see it at 5%. The lowest forecast is 4.4%
The GDP growth rate moderated to 6.3% in July-September quarter (Q2FY23) after double-digit expansion in the in April-June quarter (Q1FY23).