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RBI retains FY24 retail inflation forecast at 5.4 per cent
Updated On: 09 December, 2023 07:39 AM IST | Mumbai | Agencies
The moderation in October inflation was observed in all components of CPI
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RBI Governor Shaktikanta Das with Deputy Governors Michael Debabrata Patra, M. Rajeshwar Rao, Swaminathan Janakiraman and T Rabi Shankar at the RBI headquarters. Pic/PTI
The Reserve Bank on Friday retained the retail inflation projection for the current fiscal at 5.4 per cent but said inflation may see an uptick in November and December due to pressure on food prices. “Going ahead, the inflation outlook would be considerably influenced by uncertain food prices. High-frequency food price indicators point to an increase in prices of key vegetables, which may push CPI inflation higher in the near term,” RBI Governor Shaktikanta Das said.
Retail or consumer price index-based CPI inflation moderated to 4.9 per cent in October from 7.4 per cent in July. The ongoing rabi sowing progress for key crops like wheat, spices and pulses needs to be closely monitored, Das said, adding elevated global sugar prices is also a matter of concern.
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