Developing

INFLATION TO FIRM UP FURTHER IN COMING MONTHS : RESERVE BANK OF INDIA ON TUESDAY

Inflation is going to firm up in coming months. Country’s headline inflation is expected to firm up further in the coming months largely due to disruptions in food and manufactured items’ supply chains, the Reserve Bank of India said in its annual report for 2019-20 released on Tuesday. According to government data, retail inflation rose to 6.93 per cent in July, mainly driven by rising prices of food items like vegetables, pulses, meat and fish. Surely if this figure rise it will directly effect the livelihood of common people. “Prices of food items like palm oil, soy oil, sugar and corn also declined with retrenchment in demand for ethanol and bio-diesel as crude oil prices declined,” SBI said in its report.

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