Indias headline inflation scheduled to come out on Monday may be more than 4.9 per cent for the month of June,says Barclays.
The countrys WPI inflation fell to 4.7 per cent in May,its lowest rate since October,2009. The reading for the month of June is scheduled to come out on July 15.
The CPI print poses some upside risks to our WPI projection of 4.9 per cent for June,due on July 15, the report said. Barclays said the fuel component of CPI should rise at the margin in coming months,as reduction in fuel subsidies and a weaker rupee get passed through into inflation.
On rate cuts,Barclays said: The uncertainty regarding the near-term rupee trajectory and likely upward pressures on inflation in June have reduced the likelihood of RBI easing at its July policy meeting. pti