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Inflation in India at “Unpleasantly High” Levels: Moody’s Analytics

According to Moody’s Analytics, India’s inflation rate is at “unpleasantly high” levels, an exception to the Asian economy. cut. Retail inflation rose from 4.1% in January to 5% in February.

Reserve banks primarily take retail inflation into account when making monetary policy decisions.

Core inflation (excluding food, fuel and light) rose 5.6% in February from 5.3% in January, according to Moody’s Analytics.

Financial intelligence firms said in a macro summary that inflation has been curtailed in most parts of Asia and is expected to gradually recover into 2021 due to rising oil prices and the resumption of the economy. Brent crude rose 26% this year to about $ 64 per barrel.

The COVID-19 crisis was about $ 30 per barrel in March 2020, when the crisis was nearing its peak.

“India and the Philippines are an exception. Inflation is above comfort levels in these economies and has been added to the list of challenges for policy makers,” he said.

Inflation in India is a “concern”, with volatile food and oil prices rising several times in 2020 to lift retail inflation above the 6% cap and RBI easing at the height of monetary policy. He said it hindered his ability to maintain financial settings. Pandemic.

Under the framework of monetary policy, the RBI aims to keep retail inflation at 4% (+/- 2%).

“The RBI is expected to maintain its current inflation targeting band beyond its current expiration date of March 31,” Moody’s Analytics added.

Fiber2Fashion News Desk (DS)

According to Moody’s Analytics, India’s inflation rate is at “unpleasantly high” levels, an exception in the Asian economy. Recently, rising fuel prices have continued to put upward pressure on retail inflation, saying the Reserve Bank of India will not offer further rate cuts. Retail inflation rose from 4.1% in January to 5% in February.



Inflation in India at “Unpleasantly High” Levels: Moody’s Analytics

Source link Inflation in India at “Unpleasantly High” Levels: Moody’s Analytics

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