New Delhi [India], August 6 (ANI): Consumer goods companies' planned price hikes could keep underlying inflation under pressure despite the Reserve Bank of India's relatively benign inflation outlook, according to a post-policy note by Elara Capital. The brokerage said it will continue to monitor the pass-through of elevated input costs to inflation as companies increase prices to offset higher expenses. "We shall continue to monitor the passthrough of elevated input costs to overall inflation as companies take price hikes to pass on impact of elevated input costs. Recent management commentary from the consumer good firms also indicate potential upside in core inflation," Elara Capital said. "We expect the RBI to look through the El Nino led potential uptick in food inflation unless it becomes entrenched.