Economists Banking on Rain☔, Gold 39%

  |   India News

By Fråst🐺

Recent data released by the Central Statistics Office📊 (CSO) shows the consumer price index (CPI) rose🔺 5.4% in April, faster than the March’s🔺 4.8% rise. It also showed that India’s gold🔱 demand fell by🔻 39% in the first quarter. The consumer food🍅 price index went up🔺 6.3% in April compared to March’s🔺 5.2%. The price of pulses soared📈 to 34.1% & sugar rose📈 11.2% year-on-year in April. Retail inflation in rural areas rose🔺 6%, while in urban areas it grew🔺 4.7%. Economists believe that the RBI🏦 will hold rates as the monsoon☔ will be key to the inflation curve in future months. Ratings agency Crisil said💬, "The lagged impact of interest rate reductions, salary revisions and easier monetary conditions will also support demand and boost industrial capacity utilization. We expect GDP to rise to 7.9% in fiscal 2017 from 7.6% in fiscal 2016 and industry GDP to grow at 7.6% driven by manufacturing and construction activity.”

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