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CPI may hit 6.2% by end of Q2, says Morgan Stanley
Mint Mumbai
|August 03, 2023
Morgan Stanley on Wednesday said it expects India's retail inflation to leap to 6.2% at the end of the quarter ending September, against its previous forecast of 5.5%, due to higher prices of food
However, the consumer price index (CPI) is expected to moderate to 5-6% in the second half of FY24.
The investment bank said despite its core inflation forecast for India remaining unchanged, it maintains the base case of a shallow rate cut cycle from Jan-March 2024. It also expects the recent trend in inflation to undergo broad-based moderation, and the possibility of a delayed start in the rate-cut cycle.
In a report titled 'Assessing Risks to Inflation Trajectory', Morgan Stanley said it expects India's CPI during July to be around 6.2-6.4%.
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