India In-Focus — Nomura cuts 2022 retail inflation forecast; Wheat import duty may be scrapped

RIYADH: Lower food and commodity prices have led to India’s headline retail inflation forecast being revised down 20 basis points by Japanese financial holding company Nomura.

Nomura analysts put the inflation figure at 6.7 percent in 2022, but they expect inflation to average 6.0 percent in 2023 — up from 5.9 percent in their previous forecast.

“Some ameliorating factors have materialized in July, such as lower food and commodity prices, but retail prices are likely to remain sticky,” Nomura analysts Sonal Varma and Aurodeep Nandi said in a note.