A median of projections by eight brokerages puts inflation at 6.7% in 2022-23, sharply up from 5.5% the previous year.
The projected print would surpass even the pandemic-led high of 6.2% in FY21 and continue to burn the pockets of consumers as the inflationary pressures from rising food prices, supply-chain disruptions, and pass-through of input costs are far from over.
Following the Centre's announcement on Saturday of a sharp cut in excise duty on fuel, increases in fertilizer and cooking gas subsidies, and cuts in customs and import duties on certain raw materials, several economists left their inflation estimates for the full fiscal unchanged. Some did prune projections by up to 40 basis points, but the overall expectations remained above the Reserve Bank of India's (RBI's) upper tolerance bound of 6%.
This story is from the May 25, 2022 edition of Hindustan Times.
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This story is from the May 25, 2022 edition of Hindustan Times.
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