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India's annual consumer price inflation eased further to 2.18 percent in May, driven down by cooling food prices, government data showed on Monday.
The rise was lower than the 2.60 percent forecast by economists in a Reuters poll and was the lowest since India started publishing an economy-wide consumer price index in 2012. Consumer prices rose 2.99 percent on year in April.
A. PRASANNA, ECONOMIST, ICICI SECURITIES PRIMARY DEALERSHIP, MUMBAI
"May CPI inflation undershot our expectations as both food inflation and core inflation softened. Data over past few months suggest that the normal seasonal patterns in food inflation have gone haywire even as underlying inflation has softened in-line with signals seen in various core gauges.
ANJALI VERMA, ECONOMIST, INDIA, MUMBAI
"Inflation is reasonably lower than my expectation as well as consensus.
"First-half data anyways is expected to be more comfortable than what RBI has been targeting. Second-half inflation is expected to move up to 4 percent. Since there is no clarity on how RBI is going to respond to that we are maintaining status quo in terms of the policy rate.
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