Food prices keep Indian inflation up – RBI

Target may only be reached in H2, central bank research says

Indian banknotes

Food prices remain high in India and may keep inflation elevated, researchers from the Reserve Bank of India (RBI) said in the central bank’s latest ‘state of the economy’ report.

Prices of vegetables, cereals, pulses, meat and fish continue to rise rapidly, making inflation likely to be closer to 5% in the near-term. This comes despite a fall in fuel prices and softening core inflation in the country. The RBI targets 4% inflation, plus or minus two percentage points.

The RBI report found that the

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