The inflation trajectory has largely evolved in line with the outlook given by us in June 2022, Shaktikanta Das said, adding that going forward, food inflation is likely to moderate with the usual winter softening and the likelihood of a bountiful rabi harvest.
India's October inflation dropped to 6.77 per cent, from 7.41 per cent in the preceding month, mainly due to easing prices in the food basket, though it remained above Reserve Bank's comfort level for the 10th month in a row.
The Reserve Bank of India's three-day monetary policy committee meeting commences today. Financial markets will be keenly watching the committee's stance as consumer inflation is still above the 6 per cent target band.
The Reserve Bank of India's three-day monetary policy committee meeting is set to commence today. Financial markets will be keenly watching the committee's rate hike stance if any, as inflation is still above the 6 per cent target band.
Retail inflation moderated to a three-month low of 6.77 per cent in October from 7.41 per cent the previous month. Also, wholesale inflation in October came in at single-digit after 18 long months.
Morgan Stanley expects India's retail inflation to moderate to 5.4 per cent in 2023-24 and to 4.8 per cent in 2024-25 from 6.6 per cent in the current financial year 2022-23.
Mumbai (Maharashtra) [India], October 17 (ANI): The Reserve Bank of India has said that its monetary policy remains focussed on realigning inflation within the targeted band but the fight will be "dogged" and "prolonged".
New Delhi [India], October 14 (ANI): India's wholesale price index-based inflation eased to 10.7 per cent in September as against 12.41 per cent recorded in the previous month, as per the government data released on Friday.
New Delhi [India], October 14 (ANI): Indian stocks jumped sharply on Friday morning tracking positive cues from benchmark US markets - which rose despite inflation remaining elevated in the country in September.
New Delhi [India], October 13 (ANI): The unseasonal rains in different parts of India, particularly in cereal-producing states, could have a "significantly large impact" on cereal and vegetable prices, said SBI Research in its latest 'Ecowrap' report.
Mumbai [India], September 30 (ANI): The Reserve Bank of India (RBI) on Friday hiked repo rate by 50 basis points to 5.90 per cent in order to control the rising inflation, keeping in line with the aggressive policies of central banks and the volatile markets prevalent across economies.