India's retail inflation held steady in December, staying within the Reserve Bank of India's comfort zone for a second month as a moderation in food price rises was partly offset by elevated core inflation, a Reuters poll of economists found.
at 5.90% in December from a year earlier, little changed from an eleven-month low of 5.88% in November.
"I think the sequential decline in food prices is likely to have a moderating impact on inflation, however, we are not looking at a very sharp fall from the previous meeting, because core inflation will continue to remain sticky. And that should provide a floor," said Sakshi Gupta, principal economist at HDFC Bank.
"We have been highlighting that monetary policy setting in India is going to be a two-step process: first to bring inflation within the tolerance band and then to bring it closer to the 4% target," wrote Aastha Gudwani, India economist at BofA Securities.
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