September WPI and CPI largely in control: FICCI

FICCI in a statement released today said that its outlook at the recent data on both Wholesale Price Index (WPI) and Consumer Price Index (CPI) shows that inflationary pressures are largely in control. It states that the government should work more on addressing structural challenges.

Commenting on the same, Jyotsna Suri, President, FICCI said, "The uptick seen in the case of select agricultural commodities needs to be dealt with through both short and long term measures. The government is fully geared to the situation and has lined up imports of pulses. We need to continue to work on addressing the structural challenges both in the food supply chain and in overall agri-productivity levels."

"Recent IIP numbers have been encouraging. Following the cut in the policy rate by RBI, several banks have revised downwards their base rate. However, there is a room for further cut in the lending rate by the banks. As the gains of a lower interest rate regime get transferred to both consumers and investors, demand would pick up and we hope this brings pricing power back into the hands of the producers", added Dr. Suri.