Concerned about high inflation that in March overshot its 8 per cent target, the Reserve Bank has said it would address the issue in its monetary policy review, scheduled for May 3.

“RBI will evaluate the underlying inflationary pressures on the monetary policy…Inflation is a concern for us. The underlying inflationary pressure is because of high non-food manufacturing prices,” RBI deputy governor Shyamala Gopinath said on the sidelines of a workshop on FEMA here yesterday.

Steep prices of vegetables and manufactured items drove the headline inflation in March to 8.98 per cent, way above the central bank’s expectation of 8 per cent.

The overall inflation measured on the basis of Wholesale Price Index (WPI) was 8.31 per cent in February.

On FEMA workshop, she said that foreign exchange regulations were simplified over the last several years.

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