RBI says stabilising core inflation shows easing price pressures
RBI on inflation news: Vegetable prices eased in August and brought down retail inflation to 6.8 per cent. This is likely to continue in September, the Reserve Bank of India said in its monthly bulletin.
![RBI says stabilising core inflation shows easing price pressures](https://cdn.zeebiz.com/sites/default/files/2023/09/19/261195-untitled-design-24.jpg?im=FitAndFill=(1200,900))
RBI on inflation news: Reserve Bank of India (RBI) sees stabilising core inflation, which excludes food and fuel prices, as a sign of easing price pressures in the economy. Vegetable prices eased in August and brought down retail inflation to 6.8 per cent.
This is likely to continue in September, the Reserve Bank of India said in its monthly bulletin.
"The correction is not complete, and more is expected to drive down retail inflation in its September reading," the central bank said.
It added the correction in prices has moved beyond the three key vegetables - tomato, potato and onion - and the outlook for cereal prices has brightened, "supported by active supply side interventions".
While headline inflation remained above the central bank's comfort band of 2 per cent-6 per cent, core inflation dropped below 5 per cent in August.
The RBI, however, said rising crude oil prices posed a new risk to global financial stability.
The central bank's economic activity index nowcasts GDP growth for the July-September quarter at 6.6 per cent, slower than the 7.8 per cent in the first quarter.
This has, however, partly driven a normalising base.
"Amidst weakening global prospects, the Indian economy is gaining strength led by domestic drivers," the RBI bulletin read.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
![https://www.zeebiz.com/markets/stocks/photo-gallery-this-tata-group-stock-turned-every-rs-10000-of-investment-into-rs-11300-in-just-a-week-investors-richer-by-42722-crore-rupees-any-guesses-share-market-news-304023](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/07/26/307143-tradingpexels.jpg?itok=rw4R7EfH)
A Tata group stock just turned every Rs 10,000 of investment into Rs 11,300 in just a week, investors richer by Rs 42,722 crore; any guesses?
![https://www.zeebiz.com/markets/stocks/photo-gallery-large-cap-midcap-stocks-shares-to-buy-for-long-term-check-out-targets-nifty-sensex-303617](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/07/25/306716-stockks.jpg?itok=KJTrFUIK)
Stocks to buy for long term: Analysts suggest buying these 5 largecap, 4 midcap scrips; check out targets
![https://www.zeebiz.com/personal-finance/photo-gallery-nps-retirement-planning-budget-2024-nirmala-sitharaman-announcement-how-nps-rulebook-change-can-increase-corpus-income-and-monthly-pension-by-40-compound-return-303984](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/07/26/307102-indian-currency-pixabay-take.jpg?itok=kN21EW-9)
How your NPS retirement corpus and monthly pension can jump by 40% after this rule change; get details
![https://www.zeebiz.com/personal-finance/photo-gallery-senior-citizen-savings-scheme-scss-2024-interest-rate-calculator-post-office-how-to-get-inr-rs-50000-interest-retirement-planning-guaranteed-return-maturity-amount-small-savings-303930](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/07/26/307042-fd-interest-file.jpg?itok=45ZbBRWM)
How much investment do you need in this senior citizen scheme to get Rs 50,000 quarterly interest? Know here
08:37 AM IST