The Reserve Bank of India Governor Shaktikanta Das stated in a latest media interaction that price stability is definitely uppermost for the central bank. He noted that price stability basically means maintaining and adhering to the inflation target. The character and the content of inflation in the advanced economies is different from the character and content and the drivers of inflation in India.
He noted that from last October onward, the momentum of inflation is on the downward slope in India primarily because of the statistical reasons. The base effect, which has resulted in higher inflation, especially in quarter three and the same base effect will play in different ways in the coming months. The Reserve Bank is fully aware of its commitment to inflation, keeping in mind the objective of growth.
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