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Comfortable position: Low inflation may not lead to another rate cut
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Business Standard Editorial Comment Mumbai
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The data released on Monday showed that the Consumer Price Index-based inflation rate declined to 2.1 per cent in June, as against 2.8 per cent in May. The decline was largely driven by lower food prices. The all-India Consumer Food Price Index declined by 1.06 per cent, mainly because of lower vegetable prices, which dropped by 19 per cent. Given the forecast of a good monsoon, food prices are expected to remain in check. However, it is worth noting that within the food segment, the moderation in prices is not uniform. Prices of oils and fats, for example, increased by
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