High inflation a result of exogenous price shocks, says MPC member ...Middle East

The high inflation rate in the last three quarters is mainly a consequence of the 'exogenous' price shocks, and addressing the issue will require coordinated policy efforts, RBI Monetary Policy Committee (MPC) member Shashanka Bhide has said. Bhide further said the inflationary pressures are high and it certainly is a test for India's inflation targeting framework. "The high inflation rate in Q2 FY2022-23 follows high inflation in the previous two quarters. "High fuel and food prices and their spillover to other sectors have sustained the high inflation rate," he said in an email interview with PTI. The retail inflation based on CPI has remained above 6 per cent since January 2022, and it wa

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