India Inflation Target Miss Would Be Disappointing, Says Bhide
- Moderation in global prices crucial for local price stability
- Consumption and investment to gain from a fall in inflation
Consumer prices in India fell for three straight months in July.
Photographer: Anindito Mukherjee/BloombergThis article is for subscribers only.
India’s central bank missing its price mandate is disappointing and price gains returning to target will be tied to the easing global inflation, according to a member of its rate-setting committee.
“Moderation in inflation rate and stable financial conditions globally would make it easier to reach the inflation target sooner and sustain it,” said Shashanka Bhide, an external member on the Monetary Policy Committee in an email interview Wednesday.