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    Vikshita Vitthal Gujaran in News

    28-Oct-2022 08:42 AM


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    High Inflation Mainly A Result Of "Exogenous" Price Shocks: RBI Member

    The retail inflation based on CPI has remained above 6 per cent since January 2022.
    The high inflation rate in the last three quarters is mainly a consequence of the 'exogenous' price shocks, and addressing the issue will require coordinated policy efforts, RBI Monetary Policy Committee (MPC) member Shashanka Bhide has said.
    "The high inflation rate in Q2 FY2022-23 follows high inflation in the previous two quarters. "
    The retail inflation based on consumer price index (CPI) has remained above 6 per cent since January 2022, and it was 7.41 per cent in September.
    The World Bank on October 6 projected a 6.5 per cent growth rate for the Indian economy in 2022-23, a drop of one percentage point from its June 2022 projections, citing the deteriorating international environment.
    "Weaker rupee also affects inflationary pressures as cost of imports rises at a time when the price of fuel commodities has remained high," he opined.

    Source- NDTV
    #inflation