NEW DELHI: India`s retail price inflation is expected to fall below 7 per cent in October from 7.41pc in September, Reserve Bank of India Governor Shaktikanta Das said on Saturday.

Inflation is a major challenge for India but the central banl( and government have taken several measures to deal with it effectively over the last several months, Das said at the H T Leadership Summit in New Delhi.

A poll forecast retailprice inflation to slow in October to 6.73pc, due to weaker food price rises and a strong base year-on-year, but to remain stubbornly above the 6pc upper limit of the central bank`s tolerance band.

The data will be released at 1200 GMT on Monday.

`Overall India`s macroeconomic fundamentals remain strong and resilient, Das said.

The medium-term inflation target should continue to be held at 4pc, he added.