The Reserve Bank of India has said that the fight against inflation in the country will go on for a long time, but the rate of retail inflation will gradually decrease in the coming days.
In its Monthly Bulletin, the central bank noted that the effect of the measures taken under the monetary policy is visible in the long run and in different ways.
In an article titled State of the Economy, the RBI said that the trend of relief in inflation rate can be first seen in the prices of food items.
The RBI noted that 'aggressive and synchronised monetary tightening has further weakened global economic prospects as financial markets sold off, investors took fright and jettisoned risky assets.'