With higher food and fuel prices, wholesale price inflation may rise even more in May.
The inflation based on Wholesale Price Index (WPI) was 1.55 percent in November 2020, and 2.76 percent in December 2019.
Overall food inflation rate also edged closer to 5 percent. It was 4.28 in February this year compared to 2.34 percent in the previous month and 0.95 percent in the same of last year.
Market participants are also digesting the fallout of the government's move to demonetise high-value notes.
Since 10 October, FIIs have sold $1 billion in equity and have been sellers on all but two trading sessions over this period. So far this year, FIIs have remained net buyers of Indian equity and have bought $6.76 billion in domestic equity, Mint reported on Wednesday.
Jaitley is also slated to meet key ministers, including Transport Minister Nitin Gadkari, Food Minister Ram Vilas Paswan, Agriculture Minister Radha Mohan Singh and Commerce Minister Nirmala Sitharaman on Wednesday.
Former Reserve Bank Governor C Rangarajan says prices of pulses and vegetables are likely to rise even now.
According to CARE Ratings, there would be a tendency for food price inflation to move upwards in January and February but overall WPI inflation would still be within acceptable limits.
Amid concerns over rising cost of onions and other essential commodities, Finance Minister P Chidambaram today said unless supply side constraints are addressed consumer price inflation is not likely to fall.
Indian equity benchmarks surged Thursday, led by strengths in shares from the banking, capital goods and auto sectors, with the Sensex closing above the psychological 19000-mark.
India's annual wholesale price inflation eased to 7.18 percent in December, government data showed on Monday, below analysts' expectations of 7.40 percent and down from 7.24 percent annual rise in November.
CRISIL Research, India‘s largest independent and integrated research house, predicts that India‘s GDP will grow at a higher rate of 6.7 per cent in 2013-14 in comparison to 5.5 per cent estimated for the current fiscal due to a revival in consumption.
Sajjid Z Chinoy, Asia Economics at JPMorgan expects tomorrow‘s CPI reading to remain at elevated levels.
India's industrial production grew at a higher-than-expected pace of 2.4% in May driven by manufacturing output, government data showed on Thursday.
India's wholesale price inflation accelerated to 7.55% in May from a year earlier, driven by double-digit rises in food and fuel prices, government data showed on Thursday.
Richard Jerram, chief economist of Bank of Singapore expects the inflation number to come in at about 6.7%. He says inflation has come down quite nicely in the past six months or so.
A CNBC-TV18 poll suggests that our wholesale price inflation rate likely slowed marginally in March to 6.7% as compared to the 6.95% figure of February.
The January wholesale price inflation expected at 6.53% against 7.41% according to a CNBC-TV18 poll. The
India's headline inflation was unchanged in October, worse than forecast and above the 9% mark for the eleventh straight month, complicating monetary policy for the Reserve Bank of India (RBI).
Robert Prior-Wandesforde, Head of India & South East Asia Economics, Credit Suisse, in an interview on CNBC-TV18 gave his expectations on the IIP number.
On CNBC-TV18's special pre-budget series, What the World Wants, some of the big global market analysts and thinkers talk about the level of expectations going into the budget exercise.