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INFLATION TO REMAIN AROUND 5 PER CENT THIS FISCAL: SBI REPORT
The Business Guardian
|August 06, 2024
The Consumer Price Inflation in India is expected to remain around 5 percent in the financial year 2024-25 except for September and October month, according to a research report by SBI.
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The report also noted that the inflation outlook in India remains a critical focus for the Reserve Bank of India (RBI). 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.
“CPI inflation is expected to remain below or close to 5.0 per cent in the remaining months, except for Sep’24 and Oct’24” said the report.
The report also added that the monsoon season plays an important role in shaping food prices, and while the current monsoon has shown a satisfactory surplus, excess rainfall could lead to crop losses, adversely affecting food inflation.
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