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The Times of India
The Times of India
Business
PTI

RBI ups inflation projection to 5.7% on global geopolitical tensions

RBI Shaktikanta Das Reserve Bank Reserve Bank of India India MPC Mumbai

MUMBAI: With geopolitical tensions clouding the price situation, the Reserve Bank of India (RBI) has raised the retail inflation projection for the current financial year to 5.7 per cent from earlier forecast of 4.5 per cent, though it expects moderation in prices of cereals and pulses on a likely record harvest of winter season (rabi) crop.

In wake of the ongoing Russia-Ukraine war, RBI governor Shaktikanta Das said the prices of crude oil as well as edible oil will likely remain elevated.

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