Y V Reddy, Governor, Reserve Bank of India, today said the central bank is still analysing inflation numbers."The target for this year is to contain inflation within 5%, and to stem it between 4-4.5% in the medium term. Ideally and optimally, inflation should be closer to 3% over a period so that global integration is smooth,'' Reddy said.The annual rate of inflation for the week ended June 16 dipped to 4.03% from 4.28% in the previous week. Both the RBI and the finance ministry is keen on containing inflation without hurting growth.The central bank has raised key lending rates five times in the last one year to contain inflationary expectations. It last increased its overnight lending rate to a five-year high of 7.75% on March 30.
