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Statement by Chandrajit Banerjee, Director General, CII on WPI Inflation for June 2017
Jul 14, 2017

Commenting on the WPI inflation data, Mr Chandrajit Banerjee, Director General, CII said that the continuous easing of the WPI inflation print over the last few months, culminating in prices touching a record low in June 2017, reflects a paradigm shift towards an era of benign inflation.  At a time when the retail inflation is also converging to a new low, it is apparent that overall price pressures are presently subdued in the economy.

"The declining inflation scenario, which has been undershooting the Central Bank’s inflation target by a large margin, should induce the RBI to resume its rate easing cycle. CII strongly recommends a rate cut of 50 basis points in the forthcoming monetary policy to provide a fillip to demand", said Mr Banerjee.

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