Indian monetary policy makers seen tolerating high inflation for growth

Data later today might show wholesale prices grew 13.3%, the highest rate in three decades, it's unlikely just yet to fully feed into consumer prices.

Indian monetary policy makers’ intolerance for an inflation rate higher than their 4% medium-term target will probably only stay on paper.
 

In reality, economists see the Reserve Bank of India grin and bear price pressures as it seeks to help Asia’s No. 3 economy recover from one of the world’s worst coronavirus outbreaks. The RBI has chosen to look through a recent surge in inflation because it was supply-side driven, and will only turn persistent when demand kicks in, Deputy Governor Michael Patra said at a briefing June 4.

While the wholesale price print due later Monday will probably make