Twitter: @the_news_21
Consumer Price Inflation had been plaguing the Reserve Bank of India by remaining above its tolerance level of 6 per cent for three straight quarters. This forced the central bank’s hand as it had to raise interest rates to restrict cashflow in order to control demand and bring down prices.
But inflation dropped below RBI’s threshold in March 2023, and has been slipping downward, as it hit a two-year low of 4.25 per cent in May.
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Twitter: @the_news_21
Consumer Price Inflation had been plaguing the Reserve Bank of India by remaining above its tolerance level of 6 per cent for three straight quarters. This forced the central bank’s hand as it had to raise interest rates to restrict cashflow in order to control demand and bring down prices.
But inflation dropped below RBI’s threshold in March 2023, and has been slipping downward, as it hit a two-year low of 4.25 per cent in May.
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TheNews21 is India’s independent digital news and investigative journalism platform founded by senior journalist Vivek Bhavsar. From its Mumbai newsroom, it reports on governance, politics, public policy, business and international affairs, while publishing in-depth investigative stories in the public interest.
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