The june WPI series came in at a 7.25% rate growth on year much less than expected and removing worry lines from the market. The previous month data as higher at 7.5% and April also was revised to 7.5% and CPI had crossed 10%.
Non Food articles index are down 2.6 points from May Manufactured Pdts Inflation is at the same level as May at 5% after the indices moved up 0.3 points from May.
Food Inflation at 10.81% though higher should not be a cause for worry as Agricultural supply node complexities and bottlenecks drive growing corrections to Minimum support pricves and other costs payable in the Agri supply chain even before investment
Primary Articles inflation is at 10.46% from near 11% last month
Inflation had peaked at 7.7% in March
According to the outgoing chairof the PMEAC, and ex RBI Governor C Rangarajan, the government’s efforts to containt he fiscal deficit could keep inflation soft. The Rupee’s correction proceeds as it was in the morning and equities are up, tthe currency and the falling yields in bonds would definitely tighten and benefit forward inflation as well as growth, taking India back to a virtuous cycle if investment response is also achieved in a similar vein as polivy action follow up is also awaited to top the good news.