Inflation remains elevated in the country, with ongoing tensions in West Asia and prospects of a weak monsoon season seen as key risks for the economy, according to Reserve Bank of India (RBI) Governor Sanjay Malhotra.
In an interview with state-owned television channel Doordarshan on Friday, Malhotra said recent price pressures were largely driven by supplyside factors. Official figures released earlier this week showed that the retail inflation, based on the consumer price index (CPI), increased rose above the banking regulator’s 4% target for the first time in nearly a year-and-a-half.
