RBI hope on prices not shared widely

.....Defending its stance, RBI said, “There are indications that vegetable prices may be turning down sharply... In addition, the disinflationary impact of recent exchange rate stability should play out into prices.” However, economists still feel WPI inflation would remain elevated in the coming months. “Even if we go by RBI’s presumption of a likely decline in food prices, the remaining impact of rupee depreciation and continuous adjustment in diesel prices will keep the inflation high,”.........

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