India's fight against inflation is far from over as the spike in food prices has re-emphasized the need for monetary policy action as well as improvement in supply side management, the Reserve Bank of India said in its July state of the economy report.
"Food price spikes typical of the onset of the monsoon drove up headline inflation in June, corroborating the monetary policy committee’s view that the fight against inflation is far from over and monetary policy has to stay the course on the arduous last leg of the journey to align inflation with the target," the RBI's report said.
Source Name : Economic Times