look news india
Mumbai: RBI Governor Shaktikanta Das said that the Reserve Bank of India (RBI) is continuously making efforts to bring the country's retail inflation rate to the level of 4 percent, but high food prices are hampering RBI's efforts.
High food inflation is hampering the process of reducing inflation. Food inflation remains high as a result of supply side factors affected by adverse weather conditions, he said in an interview to a TV channel.
The final stage of reducing inflation is becoming complex and difficult not only in India but also in some developed countries. Das said that the average food inflation has been around eight percent in the last seven months.
Retail inflation fell to 4.75 percent in May. Among food items, the inflation rate of vegetables was 32.42 percent, onion was 58.05 percent and potato was 64.05 percent in May. Apart from this, the inflation rate of pulses was 21.95 percent.
