Inflation is expected to decline further to 19.0% year-on-year in September 2024, IC Research has predicted.
However, it expects month-on-month inflation to rise to 0.7%.
“For September 2024, we expect further decline in headline inflation to 19.0% year-on-year while the month-on-month rate rises to 0.7%”.
Headline inflation surprisingly declined by 50 basis point to 20.4% in August 2024 against IC Research expected uptick to 21.8% and the market’s expectation of a rise to 22.8%.
On a month-on-month basis, the Consumer Price Index data showed a decline in actual prices between July 2024 and August 2024 with a deflation of 0.7% month-on-month on the back of a 2.2% month-on-month food price deflation.
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