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RBI hikes FY25 inflation estimate to 4.8%
Millennium Post Delhi
|December 07, 2024
FOOD PRICE PRESSURES TO KEEP CPI ELEVATED IN Q3
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MUMBAI: The RBI on Friday raised the inflation projection for the current fiscal to 4.8 percent from 4.5 percent, with Governor Shaktikanta Das saying lingering food price pressures are likely to keep headline inflation elevated in the December quarter.
Consumer price index (CPI)-based inflation increased sharply in September and October 2024, led by an unanticipated increase in food prices.
Core inflation, though at subdued levels, also registered a pick-up in October. Fuel group remained in deflation for the 14th consecutive month in October. "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.
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