Tata Motors to increase CV prices by up to 2% from April 1

Tata Motors Ltd. has announced it will increase the price of its commercial vehicles effective

April 1 by up to 2%. “The price increase is to offset the residual impact of the past input costs. While the price increase will vary as per individual model and variant, it will be applicable across the entire range of commercial vehicles,” the company said in a statement. Moody’s had on Wednesday affirmed Tata Motors Ltd.’s Ba3 corporate family rating. espite the pace of price rise in some food items like onions, potatoes and pulses hastening in February, overall retail inflation is likely to have stayed at about 5.1% in February, the same level as January, Bank of Baroda (BoB) economists said on Thursday.

Prices of about half of the 20 items tracked by the bank’s Essential Commodities Index (ECI) saw some momentum building up last month with the index

Drising 4.2% yoy compared with January’s 3.8%.

A sharp uptick in prices was seen in potatoes, which rose 16.6%, tomatoes (30.3%), pulses like chana dal or gram dal (15%) and urad (15.5%) compared with February 2023 levels. On a sequential basis, prices rose for 16 of the 20 commodities in the index, including onions, vegetables, rice, pulses, edible oils, and sugar, compared to their January prices.

“For the first five days of March, the BoB ECI has inched up further by 5.5%, on a yoy basis,” the bank’s economist Dipanwita Mazumdar said. “We expect inflation measured by the Consumer Price Index (CPI) to settle at around 5.1% in February.” If the recent, broadbased pressure in prices persist, the headline inflation may not get near RBI’s 4% target level.