Retail Inflation To Ease To 5% Level During First Half Of 2022-23: RBI Governor
NDTV
Retail inflation in first half of 2022-23 is expected to ease to around 5 per cent owing to cut in fuel prices and good crop expectations
Retail inflation in the first half of financial year 2022-23 is expected to ease to around 5 per cent mainly due to reduction in fuel prices, easing of supplies and prospects of good crop, Reserve Bank of India (RBI) governor Shaktikanta Das said on Wednesday.
The RBI has kept the projection for retail inflation at 5.3 per cent for the current fiscal, i.e. 2021-22.
In his address after the conclusion of the RBI monetary policy committee's meeting, Mr Das said that during the first two quarters of the next fiscal (2022-23), retail inflation is expected to ease at 5 per cent levels.
The reduction of excise duty and VAT on petrol and diesel will bring about a durable reduction in inflation by way of direct effects as well as indirect effects operating through fuel and transportation costs, the RBI Governor said while announcing the bi-monthly policy decision.
