India consumer price inflation likely cooled to a nine-month low of 6.40% in November mainly due to a moderation in food prices, according to a Reuters poll of economists.
Inflation has stayed above the upper end of the Reserve Bank of India's 2%-6% tolerance band all year and this has triggered 225 basis points of interest rate rises to the repo rate so far, taking it to 6.25%.
If the inflation forecast is correct, the decline would take it to where it was just before Russia invaded Ukraine in February, which sent global food and commodity prices soaring. Food prices alone account for nearly 40% of the consumer price index basket in Asia's third largest economy.to an annual 6.40% from 6.77% in October. Forecasts were in a 6.00%-7.02% range.
"We will continue to see inflation falling. Lower food prices, especially vegetables, and stable energy and gasoline prices should see India's headline inflation index dropping to a level roughly in line with policy interest rates," noted Robert Carnell, head of ING's Asia-Pacific research.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tony's Italian Ristorante celebrates 40 years with new chef at the helmTony's in the Brewery District recently turned 40 years old, with a new chef in its kitchen. Plus, restaurants with a long history in Columbus
Read more »
50 Best Music Videos of 2022 You Probably Missed Part 2: 40 - 31Our look at the greatest lesser-known videos of the year continues! Today we have dance numbers, demons, and daring battles on the top of speeding cars. Plug in your headphones and let's dive in! 40. Nerv, “Demons” Look, there have been a thousand metal videos filmed in insane asylums, but...
Read more »
Family says 1-year-old suffers burns on 40% of body after candle explodesA family in Georgia says their son is facing a long road to recovery after suffering severe burns in an accident that involved a candle.
Read more »
Popular UK sandwich chain to open 40 California locationsOne of the most popular sandwich and coffee shops in the UK is coming to California.
Read more »
Family says 1-year-old suffers burns on 40% of body after candle explodesA family in Georgia says their son is facing a long road to recovery after suffering severe burns.
Read more »
Idaho murders: 25 to 40% of students chose not to return to campus, university saysThe University of Idaho, reeling from the violent stabbing deaths of four coeds, has estimated that 25 to 40% of its students have not returned to campus, Fox News has learned. FOX13
Read more »