Inflation may remain below 7% in October: RBI Governor Shaktikanta Das
RBI Governor Shaktikanta Das says that inflation may remain below 7% in October. He said that the RBI and the central government have taken many necessary steps in the last 6-7 months to control inflation.
Despite the rise in the prices of everything, Reserve Bank of India Governor Shaktikanta Das said on Saturday that inflation can remain below 7 percent in October. The retail inflation rate was 7.4 percent in September. In its first month, i.e. in August, the inflation rate was only 7 percent between food items and rising energy expenditure.
Das said that in the past 6-7 months, the central government and the RBI have taken various measures to control inflation. In such a situation, it is expected that there will be a decrease in inflation in the month of October. Speaking at the HT Leadership Summit, Das said that there is no need to change the inflation target. This will affect growth. RBI has set an upper target for inflation at 6 percent.
Further growth potential
The government has asked the Monetary Policy Committee, headed by the RBI governor, to keep inflation in the range of 2-6 percent. Talking about the state of the Indian economy, Das said that the macroeconomic fundamentals are strong and the prospects for further growth are looking better.
Effective steps taken to control inflation
He said, "We are hopeful that the inflation figures to be released on Monday are expected to be less than 7 percent. At present, inflation is a matter of concern and for this we are taking necessary steps. These steps are also looking effective."
He said that when RBI decided to increase interest in monetary policy meetings, the government has taken several steps regarding supply.
Better than expected inflation figures in America
US inflation data on Thursday has been better than expected. During the month of October, for the first time in 8 months in the US, the CPI figures have been less than 8 percent. San Francisco Fed President Mary Daly and Dallas Fed President Laurie Logan have welcomed this inflation figure. However, Das also cautioned that the war against inflation is not over yet.
Also read: RBI has no option but to raise rates by 50 basis points at its December meeting, say experts
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