INSUBCONTINENT EXCLUSIVE:
Consumer inflation was at 4.17 per cent in July, government data showed on Monday
statement."The core CPI inflation recorded only a mild decline in July 2018, with an uptick in inflation for miscellaneous items weighing
against the correction in the other components," said Aditi Nayar, principal economist at ICRA."If the recent depreciation of the INR
sustains, it may modestly feed into the CPI inflation over the near term
Crude oil prices continue to display a volatile trend, driven by geopolitical risks and concerns regarding supply as well as demand in
various parts of the world," Ms Nayar added.The rupee closed at a record low of 69.93 against the US dollar on Monday, amid weakness in
monetary policy statement for 2018-19, earlier this month projected retail inflation at 4.6 per cent in the second quarter of the financial
year and 4.8 per cent in the second half.The RBI expects consumer inflation at 5 per cent in the first quarter of next financial year
