Mumbai: A moderation in retail inflation in September from its peak in July has bolstered macroeconomic fundamentals even as global growth lost pace from the third quarter, a Reserve Bank of India (RBI) article said Thursday.
According to the article on ‘State of the Economy’ published in the latest RBI Bulletin, in India, a broad-based gaining of momentum is discernible in high frequency indicators. Deleveraging and higher capacity utilisation have enabled capital-heavy industries to gain traction, it added.
“The Indian rupee (INR) is exhibiting low volatility. Inflation has moderated from its July peak, bolstering macroeconomic fundamentals,” the article said.