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CPIJUN 12, 2023

CPI Inflation at 4.31%

CPI for May 2023

0.6σ
NIFTY 50+0.82%vs T-60 baseline
USD / INR-0.18%vs T-60 baseline
INDIA VIX-0.09%vs T-60 baseline
Gilt Fund (10Y proxy)+0.10%vs T-60 baseline
Cross-Asset Reaction Window

The 10-year sovereign is shown as a gilt-fund proxy, whose value moves inversely to yields. Older events use daily closes, so the intraday windows then coincide with the daily close.

Surprise Analysis
Surprise Deviationvs consensus, σ-scaled
0.0σ

Actual Print4.31%
Consensus4.40%

Macroeconomic Assessment

CPI below expectations (0.6σ surprise).

Source: MOSPI — CPI
Cross-Asset Reaction MatrixExport CSV
Asset ClassT−60T+30T+2HT+1D
Nifty 50NIFTY · 1d-+0.21%+0.21%+0.82%
USD / INRUSDINR · 1d--0.05%-0.05%-0.18%
India VIXVIX · 1d-+1.17%+1.17%-0.09%
Gilt Fund (10Y proxy)GSEC · 1d-0.00%0.00%+0.10%