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Inflation print for October month likely to be lower than 7 per cent: RBI Governor Shaktikanta Das

HIGHLIGHTS

  • RBI Guv Das expressed hope that inflation print for October month will be lower than 7%
  • Retail inflation in September increased to 7.4 per cent from 7 per cent in August month
  • Das attributed expected moderation in inflation in Oct to measures taken by both govt, RBI

Mumbai:123/11/22:Inflation rate in India: Terming price rise as a major challenge, Reserve Bank of India (RBI) Governor Shaktikanta Das today (November 12) expressed hope that the inflation print for October month will be lower than 7 per cent. Retail inflation in September increased to 7.4 per cent from 7 per cent in August month on higher food and energy costs.

He attributed the expected moderation in inflation in October to measures taken by both the government and RBI in the last 6-7 months. Speaking at an event, Das said that there is no need to change the goal post for inflation targeting as higher than 6 per cent inflation would hurt growth.

The rate-setting Monetary Policy Committee headed by the RBI Governor has been mandated by the government to keep inflation within 2-6 per cent range. On the Indian economy part, Das said that the macroeconomic fundamentals remain strong and growth prospects are looking good.

“We expect the October number which will be released on Monday to be lower than 7 per cent. Inflation is a matter of concern with which we are now dealing and dealing effectively,” he said.

For the last six or seven months, he said, both the RBI and government have taken a number of steps to tame inflation.

The RBI on its part increased the interest rates and the government also announced several supply side measures, he added

About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.
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