Inflation projected at 5.1-5.6% in the next fiscal: RBI Governor

Inflation projected at 5.1-5.6% in the next fiscal: RBI Governor

New Delhi, Feb 07 (ANI): The Reserve Bank of India (RBI) on Wednesday revealed that the estimated inflation for first half of the next fiscal would stand at 5.1 to 5.6 percent. RBI Governor Urjit Patel said that it may ease to 4.6 percent, likely in the second half. Patel reiterated the Monetary Policy Committee's (MPC) commitment to keep headline inflation close to 4 percent on a durable basis. "The headline inflation for Q4 of this fiscal is estimated to be 5.1 percent, owing to upside risks involved in firming up of global crude oil prices, hardening of raw material prices and stronger pricing among firms. This is expected to move up 5.6 in the first half of the next fiscal. However, unwinding of the 7th central pay commission, normal monsoon, and adequate food supply management, inflation may ease to 4.6 percent, with risks tilted to upside," Patel said. The RBI Governor was addressing the media at a press conference in the national capital.

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