‘We expect another repo cut this fiscal,' says the CRISIL report
The MoSPI lays standards, norms, and methods for data collection, processing, and dissemination across various statistical domains.
The Consumer Price Index (CPI) measures the average change over time in prices paid by urban consumers for a basket of consumer goods and services.
CRISIL report stated, ' We expect headline inflation to average 3.5 per cent this fiscal from 4.6 per cent in the last. Healthy agricultural production is expected to keep food inflation in check. As of August 8, Kharif sowing is up to a healthy 4.0 per cent on-year, and adequate soil moisture should benefit the rabi crop as well.'
'Assuming Geopolitical uncertainties remain under control, Brent crude oil prices are projected to remain subdued at USD 60-65 per barrel in the current fiscal, which should help contain non-food inflation,' the report added.
The CRISIL report also pointed out that the effect of inflation varies across income groups since spending on food, fuel, and core categories differs for classes. Moreover, essential items such as food and fuel account for a greater share of the consumption basket for lower-income households.
" The highest-income segments (top 20 per cent) in rural and urban areas faced a higher burden than their lower-income counterparts as core items (the category having the highest inflation rate in July) comprised a larger portion of their consumption baskets,' the report noted.
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