India released its provisional weekly inflation data today.
Headline inflation based on yoy change in the Wholesale Price Index (WPI) came in at 6.08% for the week ended April 7. This is in contrast to the figure of 5.74% reported a week earlier. Analysts had forecast a figure of 5.80% for the current release. The actual number is therefore about 25-30 basis points above forecast. The index itself rose 0.4% week on week to 210.8 from 210.0.
This is the last inflation release before the Reserve Bank of India (RBI) releases its monetary policy statement on April 24.
I expect no change in the increasingly hawkish stance that the RBI has been taking in conduct of its monetary policy.