Data on Monday showed consumer prices rose 2.92% in April from a year earlier, compared with the 2.99% median estimate in a Bloomberg survey of 39 economists. “Fuel prices are likely to be raised gradually after the May 23 election results. Core inflation, which strips out volatile fuel and food prices, has eased since November last year with economists expecting it to move toward the headline inflation rate in the coming months. Policy makers will be relaxed about underlying inflationary pressures as well as an uptick in food prices given record food stocks. Consumer food price inflation rose 1.1% Fuel and light prices rose 2.56% Housing prices rose 4.76% Clothing and footwear prices rose 2.01%.

Source: Mint May 14, 2019 09:22 UTC