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RBI governor Shaktikanta Das today said that the inflation trajectory for the rest of the year will be shaped by the Covid 19 infections and the localized containment measures. In a virtual address on various social media platforms this morning, Mr. Das said the high frequency food prices data for April 2021 from the department of consumer affairs suggests further softening of prices of cereals and key vegetables. He however said that price pressures in pulses and edible oil still remain.
Mr. Das further said, a normal southwest monsoon as forecast by the IMD should help contain food price pressures especially in cereals and pulses. He said the RBI does not expect any broad deviation from the projections made in the apex bank’s April Monetary Policy Committee. He said, domestic financial conditions remained easy on the abundance of surplus liquidity.
