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UPDATE 1-India May inflation hits seven-month high; still room for rate cut [Reuters (UK)]

HDFC Bank Ltd (HDB)  More Company Research Source: Reuters
PDF UPDATE 1-India May inflation hits seven-month high; still room for rate cut - Reuters 3 Min Read * May CPI inflation 3.05% y/y vs 2.99% revised for April * May CPI food inflation 1.83% y/y vs 1.10% in April * Core inflation 4.1-4.2% y/y vs April’s 4.53-4.57% -analysts * Most economists see another policy rate cut in August NEW DELHI, June 12 (Reuters) - India’s retail inflation rate hit a seven-month high in May due to higher food prices, government data showed on Wednesday, but stayed below the central bank’s target and potentially gives it room for more interest rate cuts to help a sluggish economy. Annual retail inflation in May was 3.05%, up from the revised 2.99% in the previous month, and above forecasts by analysts. A Reuters poll had predicted a retail inflation rate of 3.01% for May. Core consumer inflation, which strips out food and fuel prices, was estimated at 4.1-4.2% in May, lower than April’s 4.53%-4.57%, three analysts said after seeing the inflation figures on Wednesd [Read more]

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