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New Delhi: Citing the near double-digit inflation, the Prime Minister`s Economic Advisory Council (PMEAC) today said there is no sign of moderation in the rate of price rise to prompt the Reserve Bank to change its policy of monetary tightening.
"It is not a very comfortable situation. For the monetary policy stance to change, inflation has to come down and show signs of definite decline. But that kind of an indication has not come...," PMEAC Chairman C Rangarajan told a private news channel.
His comments followed the release of data which showed that the overall inflation remained close to the double-digit mark, at 9.72 per cent, in September on account of costlier food products, fuel and manufactured goods.
