After January Inflation Shocker, Foreign Analysts See Another 25 Basis Point Rate Hike In April

D K Joshi, chief economist at Crisil, said the acceleration in the price index was driven largely by a rise in food (cereals, protein-based items) and core (personal care) inflation. Also, both momentum (from on-month increases) and some low-base effect contributed to pulling up in the headline inflation. In fact, excluding vegetables, CPI inflation would have jumped to 7.7% compared to 7.2% in December, he said.