RBI raises FY25 inflation estimate to 4.8%, CPI to remain elevated in Q3

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RBI raises FY25 inflation estimate to 4.8%, CPI to remain elevated in Q3 - Business Standard

Quick Summary:

The Reserve Bank on Friday raised the inflation projection for current fiscal year to 4.8 per cent from 4.5 per cent with Governor Shaktikanta Das saying lingering food price pressures are likely to keep headline inflation elevated in the December quarter.

"In the near term, despite some softening, lingering food price pressures are likely to keep headline inflation elevated in Q3," Das said while unveiling the December 2024 monetary policy.

Consumer price index (CPI)-based inflation increased sharply in September and October 2024 led by an unanticipated increase in food prices.