Indian inflation 'unacceptably and uncomfortably' high
The Indian economy is one of the few bright spots in an otherwise dim global picture, with growth differential flags flying at full mast
One reason for this surprising statistic may be attributed to Reserve Bank Of India's (RBI) recent decision on interest rates
which has helped fuel investment and consumption among citizens alike
July's retail inflation rate dipped to 6.71%, easing for the third month in a row
remaining above central bank mandated targets with a slows increase food/fuel prices
but still remains at high levels that are unprecedented among other countries worldwide
"In order to maintain macroeconomic stability and ensure high growth over the medium term, we must remain ever-vigilant
We will continue our calibrated actions that are meant both for inflationary concerns as well economic activity."
At its meeting from 3 to 5 August, the MPC had decided to increase the benchmark lending rate by 50 basis points to 5.40%