After dropping in March for the first time in four months, India’s consumer price inflation (13.00 BST) probably remained stable in April at 5.2% y/y, keeping it below the RBI’s 6.0% target for Jan 2016. Meanwhile, it is unlikely that industrial production (also 13.00 BST) is on the cusp of a sustained rebound, and Capital Economics is forecasting growth of 3.5% y/y in March from 5.0% y/y in Feb. Looking ahead, much of the responsibility for generating a robust recovery in the industrial sector lies with the government.
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