Not convinced of durable fall in inflation: RBI Deputy Guv Michael Patra

CPI inflation was at 6.7% in July, the first time in four months that the price gauge fell below 7%

While headline retail inflation appears to be easing from a peak of 7.8 per cent in April, the central bank would prefer to await more incoming data before being convinced of the durability of the trend of moderating consumer prices, Reserve Bank of India (RBI) Deputy Governor Michael Patra said.

“While some easing of international commodity prices and supply chain pressures, both globally and domestically, are positive developments, upside risks remain in the form of potential second-order effects and the transmission of input cost pressures to the sticky core component of inflation,” Patra said, while delivering the keynote address at