However, Chetan Ahya, Co-Head-Global Economics & Chief Asia Economist Morgan Stanley is not overly worried about the down-tick in the Consumer Price Index (CPI) numbers since it was only 10 basis points higher than their estimate, adding that IIP numbers have always been volatile.
According to the CSO CPI data , the prices in the pulses and products category rose to a staggering 42.20 percent in October. While the price rise in the food and beverage category came in at 5.34 percent in October, inflation in cereals and products was also higher at 1.46 percent.
However, he is more concerned with what is happening in the rest of the world in terms of demand, especially exports.
Contraction in exports all over the region is weighing on the manufacturing data in India, which in turn is holding back recovery for us
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