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| In the penultimate month of FY21, CPI inflation jumped up to 5.03% from a 16-month low of 4.06% in Jan-21, attributable to an adverse base along with a mild sequential pick up in prices in a 80:20 ratio. The print was in line with market expectations but surprised us on the downside. The rise notwithstanding, Feb-20 marks the third consecutive month of headline inflation remaining well within RBI\u2019s inflation target band of 2-6%. |
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