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- RBI Governor Das expects inflation print to be below 7% for the month of October
- Retail inflation rises to 7.4 per cent in September from 7 per cent in August
- Das attributes expected moderation in inflation in October to measures taken by both govt, RBI
inflation rate in indiaTerming the rise in prices as a major challenge, Reserve Bank of India (RBI) Governor Shaktikanta Das today (November 12) hoped that the inflation print for the month of October would be below 7 per cent. Retail inflation rose to 7.4 per cent in September from 7 per cent in August, on higher food and energy costs.
He attributed the expected moderation in inflation in October to the measures taken by both the government and the RBI in the last 6-7 months. Speaking at an event, Das said there was no need to change the target post for inflation targeting as inflation above 6 per cent would hurt growth.
The rate-setting Monetary Policy Committee, headed by the RBI governor, is mandated by the government to keep inflation within the 2-6 per cent range. On the part of the Indian economy, Das said macroeconomic fundamentals remain strong and growth prospects look promising.
“We expect the October numbers which will be released on Monday to be below 7 per cent. Inflation is a concern which we are now effectively tackling,” he added.
He said that for the last six-seven months, both the RBI and the government have taken several steps to control inflation.
He said that the RBI on its part increased the interest rates and the government also announced several supply side measures.
(With PTI inputs)
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