India's retail inflation probably eased again in September, falling to a five-month low, thanks to a favourable comparison with last year and moderating food prices that offset a surge in the cost of crude oil and fuel, a Reuters poll found.
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The median from an Oct. 5-7 poll of 37 economists predicted consumer price inflation fell sharply to 4.5per cent in September from 5.3per cent in August. That would mark the third consecutive month within the Reserve Bank of India's (RBI) tolerance band of 2per cent-6per cent.
Forecasts for the data, scheduled for release on Oct. 12 at 1200 GMT, ranged between 4.25per cent and 5.50per cent, with only a handful of predictions above 5per cent.
An easing in price pressures would provide policy room to the RBI, widely expected to hold the key repo rate at 4.0per cent at the conclusion of its monetary policy meeting on Friday, as it focuses on bolstering economic growth.
"Despite elevated fuel and core inflation, lower than earlier expected food momentum and a high base from last year likely kept headline prints in check. Inflation prints are likely to bring in some positive surprise over the coming months," said Sakshi Gupta, senior economist at HDFC Bank.
But price pressures were expected to resume as the economy picks up.
"From December, once the base effect drops off and purchasing power in the system improves, CPI inflation will rise above 5.0per cent again," said HDFC's Gupta, adding the base effect alone likely took a full percentage point off September inflation.