<p>Mumbai: Food price pressures is an obstacle in swifter fall in retail inflation to the Reserve Bank's target of 4 per cent, said an article on the 'State of Economy' in the central bank's March Bulletin published on Tuesday.</p>.<p>Retail inflation based on Consumer Price Index (CPI) is on a decline since December and was at 5.09 per cent in February.</p>.<p>"Even as inflation is on the ebb with broad-based softening of core inflation, the repetitive incidence of short amplitude food price pressures deters a swifter fall in headline inflation towards the target of 4 per cent," said the article authored by a team lead by RBI Deputy Governor Michael Debabrata Patra.</p>.<p>It further said the global economy is losing steam, with growth slowing in some of the most resilient economies and high frequency indicators pointing to further levelling in the period ahead.</p>.Inflation dominated RBI’s Feb MPC meet, show minutes.<p>In India, real GDP growth was at a six-quarter high in the third quarter of financial year 2023-24, powered by strong momentum, robust indirect taxes, and lower subsidies.</p>.<p>The high visibility of structural demand and healthier corporate and bank balance sheets will likely be the galvanising forces for growth going forward, the article said.</p>.<p>The central bank said the views expressed in the Bulletin article are of the authors and do not represent the views of the Reserve Bank of India.</p>
<p>Mumbai: Food price pressures is an obstacle in swifter fall in retail inflation to the Reserve Bank's target of 4 per cent, said an article on the 'State of Economy' in the central bank's March Bulletin published on Tuesday.</p>.<p>Retail inflation based on Consumer Price Index (CPI) is on a decline since December and was at 5.09 per cent in February.</p>.<p>"Even as inflation is on the ebb with broad-based softening of core inflation, the repetitive incidence of short amplitude food price pressures deters a swifter fall in headline inflation towards the target of 4 per cent," said the article authored by a team lead by RBI Deputy Governor Michael Debabrata Patra.</p>.<p>It further said the global economy is losing steam, with growth slowing in some of the most resilient economies and high frequency indicators pointing to further levelling in the period ahead.</p>.Inflation dominated RBI’s Feb MPC meet, show minutes.<p>In India, real GDP growth was at a six-quarter high in the third quarter of financial year 2023-24, powered by strong momentum, robust indirect taxes, and lower subsidies.</p>.<p>The high visibility of structural demand and healthier corporate and bank balance sheets will likely be the galvanising forces for growth going forward, the article said.</p>.<p>The central bank said the views expressed in the Bulletin article are of the authors and do not represent the views of the Reserve Bank of India.</p>