Data Preview – CPI Seen At 6.75% In August; WPI At 12.3%; July IIP At 5.8%: Nirmal Bang

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Consumer price index inflation is seen at 6.75% in August 2022, largely unchanged from 6.71% in July-22. CPI food and beverage inflation is likely to rise to 7.1% in Aug-22 from 6.7% in July-22 mainly due to higher prices of cereals, pulses and to some extent Milk.

Wholesale Price Index is likely to come in at 12.3% in Aug-22, down from 13.9% in July-22, supported by easing input prices. WPI core inflation is seen at 7.7% in Aug-22, down from 9.7% in July-22.

The index of industrial production is likely to grow by 5.8% YoY in July-22, down from 12.3% YoY in June-22. The drag will come from core infrastructure industries output, which grew by only 4.5% YoY in July-22, down from 13.2% in June-22.

Manufacturing PMI on the other hand rose to 56.4 in July-22 from 53.9 in June-22 and was largely stable at 56.2 in Aug-22.

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