The Reserve Bank of India (RBI) will take into account the recent increase in inflation while formulating the policy later this month, Governor D. Subbarao said Monday.
"Of course, we will take into account the inflation numbers," Subbarao told reporters after meeting Finance Minister P. Chidambaram at his North Block office here.
According to data released by the commerce ministry here, wholesale price based inflation snapped fourth months of easing trend and increased to 4.86 percent in June as compared to 4.7 percent in the previous month.
Asked whether the increase in inflation would prevent RBI from cutting rates, Subbarao said: "I have no comment."
The RBI is scheduled to announce policy review July 30.
Subbarao said he discussed with the finance minister the issues concerning the forthcoming meeting of the G20.
"I have come to discuss the G20 issues with the finance minister," Subbarao said.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app