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Inflation may have peaked in January: RBI deputy governor Michael Patra

The six-member monetary policy committee of the RBI - that sets interest rate - has a target to maintain CPI inflation at 4 per cent

Michael Patra, Deputy Governor, RBI
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Michael Patra, Deputy Governor, RBI

Manojit Saha Mumbai
Consumer price index (CPI)-based inflation — the main yardstick of the Reserve Bank of India (RBI) for policy making — is likely to have peaked in January this year. And, it will ease to the 4 per cent target by 2023, the central bank’s deputy governor Michael Patra said on Wednesday.

January’s retail inflation accelerated to a seven-month high of 6.01 per cent, mainly due to rising food and manufactured item prices. It just breached the upper tolerance band of the RBI. 

The six-member monetary policy committee of the RBI — that sets interest rate — has a target to maintain CPI

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First Published: Feb 24 2022 | 2:02 AM IST

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