Reuters
Despite signs of inflation having peaked in India, the outlook remains highly uncertain, and bringing the retail price rise closer to the target of 4% is essential to help sustain economic growth over the medium term, members of the central bank's monetary policy committee said. "Although inflation seems to have peaked, it is still unconscionably high," Reserve Bank of India deputy governor Michael Patra said in minutes of the MPC's recent meeting published on Friday. "Risks to the trajectory of inflation in the form of currency depreciation, seasonal pressures and the monsoon's uneven progress could upend the moderation in momentum recently recorded," he added.