Inflation projected at 5.7 pc in 2022-23 taking into account average crude oil prices: RBI Governor

Apr 08, 2022

Mumbai, Apr 08 (ANI): RBI Governor Shaktikanta Das on April 08 said that the inflation rate is expected to rise from 4.5 per cent (projected earlier for Financial Year 2023) to 5.7 per cent. “Taking into account all factors and on the assumption of a normal monsoon during 2022 and the average crude oil price that is the Indian basket at USD 100 per barrel, Inflation is now projected at 5.7 pc in 2022-23 with Q1 at 6.3 pc, Q2 at 5 pc, Q3 at 5.4 pc and Q4 at 5.1 pc,” said RBI Governor.“It may be noted that given the excessive volatility in global crude oil prices since late February and extreme uncertainty over evolving geopolitical tensions, projection of growth and inflation is fraught with risk and largely contingent upon future oil and commodity price developments,” he added.