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LATEST NEWS UPDATES | Has inflation peaked? -Lokeshwarri SK

Has inflation peaked? -Lokeshwarri SK

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published Published on Aug 22, 2022   modified Modified on Aug 23, 2022

-The Hindu Business Line

Inflation has been moderating off late but RBI is unlikely to let its guard down

* Has inflation peaked in India?

It’s too early to conclude that inflation has peaked in India. While CPI inflation has been drifting lower since the April 2022 peak of 7.79 per cent, the decline is very gradual. The July reading of 6.71 per cent is also well above the upper limit of RBI’s tolerance band of 2 to 6 per cent. Both the RBI and the Finance Ministry have adopted a cautious tone regarding inflation in their most recent economic reviews. But the level of panic among the people regarding soaring inflation seems to be receding.

RBI’s household survey of inflation expectations shows that households expect inflation to fall, first into the tolerance band of 2-6 per cent and then to the target of 4 per cent. Stock markets are also in a jubilant mood on account of the dip in inflation.

* What is causing the prices to cool?

Numerous factors have helped inflation cool slightly over the last few months. Brent crude oil price moved around 20 per cent lower from the peak of around $120 per barrel in March 2022 on easing supply along with fears of a global slowdown. Fall in crude prices has a cascading effect on other goods and services since it brings down the transportation cost.

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The Hindu Business Line, 22 August, 2022, https://www.thehindubusinessline.com/blexplainer/bl-explainer-has-inflation-peaked/article65797356.ece


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