Inflation to rise above six per cent in July and August: Nomura

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Mumbai: After rising again in June, Nomura has predicted that the country's retail inflation will rise to more than 6 percent in July and August. Inflation will be high due to increase in prices of vegetables.

On the other hand, the government's ban on exports of non-basmati rice will increase domestic supply, which is expected to reduce prices.

The Reserve Bank of India is mandated to maintain an inflation rate of 2 percent plus or minus 4 percent. As inflation rose to over 6 percent last year, the Reserve Bank was forced to hike interest rates by two and a half percent, which resulted in a decline in inflation.

However, after remaining low in April-May due to the increase in the prices of tomatoes and pulses, inflation rose again in June. After being 4.70 percent in April, May's retail inflation fell to a two-year low of 4.25 percent. But June inflation rose to 4.81 percent.

Inflation remained low in April-May, the Reserve Bank kept interest rates stable in the last two meetings.


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