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RBI kept inflation forecasts intact for FY24, inflation is expected to remain at 5.4 percent only
Announcing the results at the MPC meeting, Reserve Bank of India (RBI) Governor Shaktikanta Das kept the inflation forecast for 2023-24 unchanged at 5.4 percent. Apart from this, RBI also ensures that it will take appropriate measures in time to avoid shocks in global food and fuel prices. Read what is the complete news.
Reserve Bank of India (RBI) Governor Shaktikanta Das, while presenting the results taken at the MPC meeting today, has retained the inflation forecast for 2023-24 at 5.4 percent.
Apart from this, RBI also assured that timely adequate action will be taken to prevent any shock to global food and fuel prices.
Governor Shaktikanta Das said September's retail inflation figures may be lower than those of August and July. Overall inflation based on the Consumer Price Index (CPI) declined to 4.6 percent in the first quarter of 2023-24 from 7.3 percent in the same period a year ago.
RBI has projected CPI inflation to be at 5.4 percent for 2023-24. Talking quarter by quarter, RBI has estimated CPI inflation to be 6.4 percent in the second quarter, 5.6 percent in the third quarter, and 5.2 percent in the fourth quarter.
