IMD's 10% monsoon deficit threatens FY27 food basket; tomato prices already +34% MoM in May 2026
HDFC Bank flags upside risk to its 5.1% FY27 CPI estimate as IMD forecasts a 10% rainfall deficit and El Nino conditions. With food at 37% of CPI and reservoirs at just 41% of live capacity, tomatoes, onions, milk and cereals face price pressure. El Nino years historically add 170 bps to food inflation.
HDFC Bank flags FY27 CPI upside risk as IMD sees 10% rainfall deficit; tomatoes already +34% MoM in May 2026 amid El Nino.
Business Today · Latest · 5/30/2026, 2:05:55 AM · Ask about this →