Worst of inflation may be behind us, RBI staff say in July 2022 Bulletin

According to the July Bulletin article, the current level of reserves were equivalent to 9.5 months of imports projected for 2022-23

The pace of rise in prices in India is on the back foot and the “worst of inflation may be behind us”, Reserve Bank of India (RBI) staff wrote in the July 2022 edition of the central bank’s Bulletin.

“For the second month in a row in June, headline CPI inflation eased in India, according to the July 12, 2022 data release of the National Statistics Office (NSO), on the back of receding food inflation. Very grudgingly, as we foretold, but diverging from the global central tendency… Several global developments are pointing in that direction,” RBI staff wrote in the State