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.

Press Trust of India