CPI data News
The market experts believe that market participants will keenly watch India's CPI data for December 2024, which is scheduled for release on January 13.
The Consumer Price Index (CPI) based retail inflation was 5.03 per cent in February 2021 and 6.01 per cent in January this year.
The previous high was 6.26 per cent in June 2021.
In the food basket, inflation in cereals moved up to 3.95 per cent; meat and fish to 7.45 per cent.
The government has asked the RBI to restrict the inflation around 4 per cent, with a margin of 2 per cent on the either side. The retail inflation was ruling above 6 per cent since December 2019.
Equities jumped on Friday for the second day as the benchmark BSE Sensex recaptured the 28,000-level by surging 293 points and NSE Nifty breached the 8,600-mark on continued buying by investors ahead of IIP and inflation data.
The NSE Nifty also regained the crucial 8,600-mark by rising 84.20 points, or 0.98 percent, to 8,676.35.
Traders broadly expect the rupee to hold in a 58.80 to 59.60 range until the budget due by mid-July.
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