Consumer price index (CPI) based inflation is expected to ease below 4 per cent in fiscal 2024-25 if monsoon remains normal and there are no further policy shocks, the Reserve Bank of India (RBI) said.
“For 2024-25, assuming a normal monsoon, and no further exogenous or policy shocks, structural model estimates indicate that inflation will average 4.5 per cent, in a range of 3.8-5.2 per cent,” the RBI said in its Monetary Policy Report for October 2023.
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