 "From 11% to 2.2%, inflation does a Vanishing act in India")
Four years ago, India’s inflation was running at over 11 per cent. Now it’s melted to a record low of 2.2 per cent, below Mexico, Turkey and the UK, as the Reserve Bank of India’s (RBI’s) battle against price pressures gains traction.
The slide has prompted the RBI, led by Urjit Patel, to slash its inflation forecasts and led one member of its six-person monetary policy committee to break ranks at its June 7 announcement, stoking market speculation the bank could next cut rates, perhaps as early as August.
So what has changed? Economists say cyclical or temporary
The slide has prompted the RBI, led by Urjit Patel, to slash its inflation forecasts and led one member of its six-person monetary policy committee to break ranks at its June 7 announcement, stoking market speculation the bank could next cut rates, perhaps as early as August.
So what has changed? Economists say cyclical or temporary
