The RBI has said it will take into account the inflation numbers, which rose in June to 4.86 per cent after four months of decline, while formulating the first quarter monetary policy review, due later this month.
“Of course, we will take into account inflation numbers while framing the policy,” RBI Governor D. Subbarao told reporters after meeting Finance Minister P. Chidambaram and other senior officials.
Inflation, which has been a key concern for the RBI, rose to 4.86 per cent from 4.7 per cent a month ago on costlier kitchen items like onion, rice and other cereals.
The central bank is scheduled to announce the first quarter monetary policy review on July 30 amid industry’s demand for a reduction in interest rates to boost sagging growth.
Subbarao further said he had come here to discuss the issues concerning the forthcoming G20 meeting in Moscow later in the week.