The Reserve Bank of India (RBI) Governor Shaktikanta Das said inflation is likely to go down in the coming months in India and the impact of high inflation is past its peak.
He further said that there will be slight ups and downs in the coming months, but the trajectory will be mostly downward in future, reason being crude oil prices coming down, commodity and food prices have also softened.
Das stated that the growth has been comparatively low in the first quarter and much below the figures the RBI had predicted. This would be addressed in the upcoming policy meeting. “We have identified some areas and will address them accordingly in the upcoming monetary policy after thorough study,” he explained.
He also assured that the RBI has taken measures to minimise the impact on growth in terms of dealing with inflation. India’s inflation reached its highest level in April 2022, when Consumer Price Index (CPI)-based inflation touched 7.79 percent. The CPI went down to 6.71 percent in July from 7.01 percent in June. It was the first time since April 2022 that retail inflation had fallen below the 7 percent level.
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