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INDIA: RBI See Spillover of Food Prices to Other Components

INDIA

Highlights from the RBI’s monthly bulletin:

  • Monetary policy vigil is warranted so as to prevent the generalisation of inflationary pressures, in order to achieve overall price stability and thereby preserve and strengthen the foundations of a high growth trajectory.
  • Persistent food inflation is spilling over through general inflation expectations to costs, services charges and output prices, although this fuller impact is offset by monetary policy.
  • In India, aggregate demand conditions are gathering momentum with revival in rural consumption on the back of growing incomes.
  • Headline inflation moderated from its spike in June to 3.5 per cent in July, but this was primarily due to the downward statistical pull of base effects.

See the full release here.

IndiaGlobalEM BulletBulletAPACEmerging Market NewsRegion
IndiaGlobalEM BulletBulletAPACEmerging Market NewsRegion

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