Government hopes inflation eases to 6% on lower int’l prices

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NEW DELHI: The government expects inflation to ease to 6% levels in the coming months on softening global commodity prices. It also expects a further pickup in the collection of goods and services tax (GST) to around Rs 1. 7 lakh crore a month.
The statement by a top finance ministry official comes aday after the US reported a moderation in inflation to 8. 5% in July, from 9. 1% in the previous month, generating positive sentiments in global markets. The RBI expects inflation to moderate to 5. 8% during the January-March quarter of financial year 2022-23.
High inflation, due to the Ukraine war and supply chain disruptions, has pushed up interest rates in the US and other economies, hurting growth and impacting capital flows into emerging markets such as India.
The government and the central bank had taken measures together to factor in the possible action by the US Federal Reserve…

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