RBI Governor Shaktikanta Das hit the nail on the head when, on August 5 while announcing the latest monetary policy stance, he said: “The inflation trajectory is now poised at a decisive point. A 6.7 per cent print in July raises hopes that India might have seen off the worst of inflation for the time being. That’s because retail inflation has shown a steady deceleration since it hit an eight-year high of almost 8 per cent in April it grew at 7 per cent in May and June.Īnother reason for comfort is that the RBI had pencilled in an average inflation rate of 7.1 per cent for the second quarter (July, August and September). While this is considerably higher than the Reserve Bank of India’s target inflation rate of 4 per cent and even outside its comfort zone (2 per cent to 6 per cent), the July number brings relief. India’s retail inflation print for July came in at 6.7 per cent.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |