Has Rajan subtlety hinted at no more rate cuts?
Apart from food inflation, fuel stretched upward in April, mainly boosted by prices of petrol and diesel which embedded in transport and communication. Clothing and footwear also submitted an increase in inflation. Services inflation remained elevated on account of house rents, water charges, tuition fees and taxi/auto fares.
Mumbai: RBI Governor Raghuram Rajan during a press conference to announce the second bi-monthly monetary policy statement at RBI headquarters in Mumbai on Tuesday. PTI Photo by Mitesh Bhuvad