India is due to release WPI inflation data for February on 16 March. Standard Chartered notes the forecasts as follows: We expect the WPI to have contracted 0.6% y/y (previous: -0.38%). While petrol and diesel prices ros…
India is due to release WPI inflation data for February on 16 March.
Standard Chartered notes the forecasts as follows:
We expect the WPI to have contracted 0.6% y/y (previous: -0.38%). While petrol and diesel prices rose during the month, a sharp reduction in aviation turbine fuel (ATF) prices likely mitigated this effect.
The slow pace of increase in prices of primary articles and manufactured products is likely to keep overall price pressures contained.
Given that CPI inflation is the main anchor of monetary policy, the market reaction to the WPI release is likely to be muted.
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