India’s Consumer Inflation Likely Eased in April

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The FINANCIAL — India’s consumer price inflation rate likely slowed in April, economists said, according to Nasdaq.

The consumer-price index rose 4.90% from a year earlier last month, according to the median estimate of 11 economists polled by The Wall Street Journal. That compares with March’s 5.17% increase.

The wholesale price index, which has been falling due to the decline in oil prices, likely fell for the sixth month in a row, dipping 2.20% in April, the economists said. It fell 2.33% in March.

India’s government is scheduled to announce the consumer-inflation data on May 12 and the wholesale data on May 14.

Untimely rains have damaged crops in many parts of India, raising concerns that food prices may eventually head higher. Forecasts of below-average rainfall during the crucial June to September monsoon season are adding to the concerns.

“While we see food inflation tick higher, it is unlikely to do so at an alarming pace,” said Jyotinder Kaur, senior economist at HDFC Bank, said in a research report.

The government will likely intervene in local markets to boost food supplies to keep prices in check, she said.

 

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