India’s Gokarn terms inflation a “legitimate concern”
Subir Gokarn, a deputy governor at the Reserve Bank of India (RBI), has described the Indian price level as a "legitimate concern."
In an article published on the central bank's website on Thursday, Gokarn noted that the rate of wholesale price inflation was higher than 15% in June. Fuel and food price rises, were the main causes of inflation, he noted.
"Prevailing wisdom on monetary policy suggests that supply-side pressures, particularly if they are temporary in nature, are not effectively
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