Shaktikanta Das, governor of the Reserve Bank, stated on Wednesday that while there is no room for complacency and the fight against inflation will continue, inflation has slowed, and the next print is anticipated to be lower than 4.7%.
In April, retail inflation decreased to 4.7%, its lowest level in 18 months, mostly as a result of declining food costs.
“Inflation has subsided, and the most recent reading is 4.7%. Speaking to the CII members present, he stated, “Perhaps the next print might be lower.”
The governor emphasized, however, that even though inflation has abated, there is still no need to get complacent.
According to him, inflation seemed to be under control, but the abrupt start of the Russia-Ukraine conflict altered everything, disrupting the global supply chain and firming up prices for commodities throughout the world.
He reassured the public that the fight against inflation is not over and that the RBI would continue to be vigilant about changing circumstances.
Das asserted that there is a foundation for promoting domestic growth, drawing assurance from macroeconomic stability.
When discussing macroeconomic stability, he said that the inflation rate has reduced, the GDP is growing steadily, and the current account deficit is under control.
