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RBI Raises Inflation Forecast To 6.7% For 2022-23, Above Its Target

RBI has raised the retail inflation forecast for 2022-23 to six.7 per cent

Reserve Bank of India (RBI) on Wednesday raised its inflation forecast for the present fiscal to six.7 per cent as a result of prevailing geo-political tensions which have fuelled inflationary pressures.

RBI Governor Shaktikanta Das mentioned after the assembly of the central financial institution’s financial coverage committee (MPC), that inflation is more likely to stay above 6 per cent in first three quarters of present fiscal.

In April, MPC had saved the retail inflation forecast for the present fiscal yr at 5.7 per cent.

“Upside risk to inflation persists as recent spike in tomato, crude prices is fuelling inflation,” Mr Das mentioned in his speech after the MPC assembly.

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