Decline in Inflation creates room for a significant rate cut: PHD Chamber

Decline in Inflation creates room for a significant rate cut: PHD Chamber

Decline in Inflation creates room for a significant rate cut: PHD Chamber

No.PR-134
November 14, 2014
New Delhi

 

Decline in Inflation creates room for a significant rate cut: PHD Chamber

 

Decline in WPI inflation to 1.7% from 2.4% in Sep 2014 is inspiring and creates significant room for rate cut in the coming RBI policy, said Mr. Sharad Jaipuria, President, PHD Chamber in a press statement issued here today.

 

“We appreciate the reform measures undertaken by the new government in terms of check on hoarding. We believe these measures would go a long way to establish price stability in the economy.” said Mr. Jaipuria.

 

The implementation of these measures at the grassroots would be critical for long term stability in the prices, added Mr. Jaipuria.

 

The decline in WPI inflation in the month of Oct 2014 is attributed to decline in the prices of primary articles (1.4%), food articles (2.7%), manufactured products (2.43%) and fuel and power (0.4%). 

 

With the stability in macroeconomic parameters such as increasing industrial growth and declining inflation, we firmly believe that the economy is looking up and should assume high growth trajectory in the coming times, said Mr. Sharad Jaipuria.

 

ENDS
Koteshwar Prasad Dobhal
Consultant (PR)