The Indian Inflation Reports – June 2012 (Addendum for CPI series)

Though India’s inflation internals are blurry on core inflation and inflation reporting never a direct look see into RBI policy, the finality of a large CPI hit was avoided as the CPI data for the month of June tracked the dip in WPI ( albeit strangely having missed the correlation in the other three reports of the new series) to 10.02% F&B Inflation is a higher 10.71% reflecting price changes yet avoiding becoming a flashpoint or a standing matter of concern for Policy with urban F&B inflation at nearly 12%, Animal proteins par for the course at 11.65% and Dals settling down at 9.35%

It seems the new series has a larger housing group weight in the urban sub index(DNA) and so CPI trended down. The WPI walk earlier was a result of drop in the “core” inflation number run by basic , intermediate and consumer goods in manufacturing pdts



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