Elevated inflation warrants appropriate policy response, says RBI article

Updated: Aug 18 2022 6:20PM

Mumbai, Aug 18 (PTI) Inflation is persistently at elevated levels that warrants appropriate policy responses to anchor expectations going forward, said an RBI article published on Thursday.

Retail inflation based on the consumer price index (CPI) softened to 6.71 per cent in July, mainly on account of moderation in food prices.

The Reserve Bank has increased the benchmark lending rate (repo) in three quick successions by 140 basis points to tame inflation, which remains above its tolerance level for the seventh month in a row.

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