October retail inflation to be below 7%, says RBI guv

Reserve Bank of India (RBI) governor Shaktikanta Das said on Saturday that the consumer price inflation numbers for October, which are to be released next week, will be below 7%.

The governor also said that while there was a global debate on whether interest rates would end up being high for too long, it was too early to discuss whether the approach to inflation needs to change.

Das, who took office after his predecessor Urjit Patel's exit following a heated debate on the central bank's autonomy, said that during Covid, even purists had realised the importance of coordination between the monetary and fiscal authorities.