Inflation worries weigh heavily as RBI MPC raises rates
Updated : August 01, 2018 05:39 PM IST
The MPC noted that retail inflation, measured by the year-on-year change in the consumer price index, rose from 4.9 percent in May to 5 percent in June, driven by an uptick in inflation in fuel and in items other than food and fuel.
The increase in MSPs by the central government for kharif crops, which is much larger than the average increase seen in the past few years, will have a direct impact on food inflation and second round effects on headline inflation.
Crude oil prices continue to be volatile and vulnerable to both upside and downside risks.
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