We can’t yet declare victory in war on inflation: D Subbarao

.....That is because even as inflation has come closer to the threshold level, the risks are present. First, there is this consumer price inflation, which is still in double digits. That's the inflation that people experience in the market. That shapes inflation expectations. Then there is the current account deficit, commodity prices, especially oil price, imported inflation, food prices. Then rural wages, minimum support prices and so on... So, there are several upside risks to inflation. We cannot declare victory as yet.

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