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Central bank rejects idea of removing food from CPI index used for inflation targeting
India’s central bank believes its current flexible inflation targeting framework has served the country well, while presenting evidence that strongly rejected removing food prices from its inflation targeting framework.
The Reserve Bank of India’s monetary policy is set to be reviewed by April next year, and the bank released a discussion paper on August 21 outlining its views on the framework. In the paper, the central bank said it was seeking input from stakeholders on its 4% +/- 2 percentage
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