The domestic headline retail inflation is expected to align with the 4 per cent target on a durable basis in FY26, Reserve Bank of India (RBI) Deputy Governor Michael Debabrata Patra has said while speaking at a high-level conference on "Central Banking at Crossroads" on Monday. The speech was published on the RBI website on Tuesday.
"In July and August 2024, inflation has fallen below the target. It is projected to average 4.5 per cent in 2024-25 before aligning with the target on a durable basis in 2025-26," he said. The central bank has been highlighting the importance of the last-mile disinflation process, which has been slow.
The RBI has projected inflation at 4.5 per cent for the current financial year (FY25), based on the assumption of a normal monsoon and stable supply conditions. However, the retail inflation surged to a nine-month high of 5.49 per cent in September, driven by rising food prices and unfavourable base.
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