Reserve Bank Governor Shaktikanta Das on Friday said the central bank expects inflation to moderate from September onwards.

       The RBI Governor said that while citing a fall in the prices of vegetables like tomatoes, restrictions imposed on the export of non-basmati rice and cut in the prices of domestic LPG cylinders.

       Das was addressing a programme at Devi Ahilya University here.

       "We expect overall inflation to start moderating from September onwards. August inflation will be again very high, but we expect from September onwards inflation to go down, he said.

       Das said that the prices of tomatoes have already fallen and retail prices of other vegetables are also expected to come down from this month.

       The RBI Governor said the government has taken several steps to ensure the supply of tomatoes and other items of common need to the people at affordable prices.

       Also Read

       MPC lowers projection for inflation, raises growth outlook a bit in FY24

       RBI MPC: Repo rate decision by Governor Das today; here's what to expect

       RBI Policy: With unanimous vote, MPC keeps repo rate unchanged at 6.5%

       RBI likely to keep rate and policy stance unchanged to control inflation

       Hero MotoCorp launches Xtreme 160R 4V premium bike at Rs 1.27 lakh onwards

       CBDT signs 95 APAs in 2022-23, highest ever since launch in 2012

       Crude oil prices rises to highest in over 7 months on supply worries

       India's GST collections in August rise 11% to over Rs 1.59 trillion

       E-recruitment declines 5% in Aug as cos cautious due to global crisis

       AUM of NPS, APY crosses Rs 10 trillion: PFRDA chairman Deepak Mohanty

       "The restrictions have been imposed on the export of non-basmati rice. The prices of domestic LPG cylinders have been cut recently," he said.

       According to government data, retail inflation had gone up to 7.44 per cent in July, which was its highest level in the last 15 months.

       Das said that the rate of (retail) inflation was at a very high level in July.

       Everyone was surprised by this. But mainly due to high prices of tomatoes and other vegetables, we were expecting that it would be substantially higher in July, he said.

       (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)