The retail inflation numbers shocked at 4.9 percent. The street was expecting 4.5 percent. In an interview to CNBC-TV18, Sonal Varma, MD & Chief India Economist at Nomura spoke at length about the same.
We expected November retail inflation at around 4.8 percent level, said Varma.
She further said that pick-up in core inflation is a surprise.
According to her, risk on food and fuel inflation spilling over is a monetary policy concern.
Talking about rate hike, she said we do not expect any rate hike in 2018 by Reserve Bank of India (RBI).
Watch accompanying video for more details.
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