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Rising inflation risk

Ignoring it for long could increase longer-term costs

Topics
Inflation | monetary policy committee | monetary policy

Business Standard Editorial Comment  |  New Delhi 



The latest data has put the Committee (MPC) of the (RBI) in a spot. The consumer price index-based rate increased to a six-month high of 6.3 per cent in May, surpassing the upper end of the central bank’s tolerance band. The pickup in prices is fairly broad-based and should worry the central bank. While the food price index increased by 5 per cent, the fuel and light component went up by 11.6 per cent. But the momentum was not driven only by food and fuel components. Core consumer price increased to a near seven-year high of 6.6 per cent. The inflation rate based on the wholesale price index also increased to 12.94 per cent in May.

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First Published: Tue, June 15 2021. 22:27 IST

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