Das added, "Assuming a normal monsoon and taking into account the 4.9 per cent inflation print, Q1 CPI inflation for the current financial year (2024-25) is projected at 4.5 per cent, with q2 at 4.4 per cent, Q3 at 4.7 per cent and Q4 at 4.3 per cent. CPI inflation for the first quarter of n
Recent data indicates that the Consumer Price Index (CPI) inflation rose to 5.08 per cent in June 2024, driven primarily by higher food and beverage prices.
After the retail inflation data showed that food inflation in June almost doubled year-on-year to 8.3 percent, economic experts are optimistic that food inflation will decrease in the coming months.
Amid the ring food inflation which has become a pain point, the All-India Consumer Price Index-Industrial Workers (CPI-IW) for May increased by 0.5 point to reach to 139.9, official data showed on Wednesday.
While retaining its position as the fastest-growing large economy, India's real gross domestic product (GDP) growth will moderate to 6.8 per cent in fiscal 2025 from 8.2 per cent in fiscal 2024, CRISIL observed in its recent report, citing high interest rates and lower fiscal impulse.
The RBI has revised the GDP forecast for the current FY 24-25 to 7.2 per cent from 7 per cent earlier, and the CPI inflation is projected at 4.5 per cent.
India's retail inflation declined to 4.85 per cent in March compared to 5.09 per cent in February this year, according to government data released on Friday
"Looking ahead, robust growth prospects provide the policy space to remain focused on inflation and ensure its descent to the target of 4 per cent," RBI Governor said announcing the decisions of the first MPC of FY25.
According to figures from the Pakistan Bureau of Statistics (PBS), CPI-based inflation reached 36.4 per cent in April 2023 while rising 1.6 per cent month-over-month (MoM) in May.
India's headline consumer price index-based (CPI) inflation (or retail inflation) has gradually declined from its peak of 7.8 per cent in April 2022 to below 6 per cent now - which is below RBI's upper tolerance band.