The Reserve Bank of India (RBI) has stated in its monthly Bulletin that the fight against inflation is not yet won, with monetary policy requiring to stay the course to align inflation with targets. The RBI stated that while India attained disinflation in about a year, the 'last mile' in the journey might be the largest challenge. Food price spikes are typical with the onset of monsoon season, which pushed up headline inflation in June, further cementing the hawkish stance of the monetary policy committee.
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