Inflation peaked in Jan, its momentum is declining: RBI Deputy Governor

Reserve Bank of India (RBI) Deputy Governor Michael Patra said inflation in India has reached its peak and its momentum "is actually declining". Referring to inflation rates breaching RBI's 6% target ceiling, Patra said policymakers had room to keep borrowing costs lower for longer to support the economy. Inflation rose to its seven-month high of 6.01% in January this year.