Consumer Price Inflation Fell to 9.39% in April 2013, says MOSPI released data. The WPI for April 2013 will only be released on Wednesday, but the trend looks down.
Food remained above 10% on a year-on-year basis, Fuel costs went up 8%, Clothing and Housing 10%. Transport costs have been rising as well, reflecting the increase in diesel costs.
Rural Inflation came down sharply to 9% while urban inflation remained above 11%. This sounds very strange.
CPI for March 2013 has been revised up marginally, but the data shows a definite downtrend. These figures are more believable than others. Food prices will now determine the future course of CPI inflation, and that will depend on the monsoon.
