RBI projects Consumer Price Index inflation at 5.3 pc for FY 2022

Mumbai (Maharashtra): The Reserve Bank of India (RBI) has projected the Consumer Price Index (CPI) inflation at 5.3 per cent for the financial year 2022.

RBI Governor Shaktikanta Das, addressing a press conference here on Friday, informed that the CPI inflation for the first quarter of the financial year (FY) 2022-23 is projected at 5.2 per cent.

“The projection for real Gross Domestic Product (GDP) growth is retained at 9.5 per cent for FY 2021-22. This consists of 7.9 per cent in the second quarter, 6.8 per cent in the third quarter and 6.1 per cent in the fourth quarter of 2021-22,” Das said.

He further informed that the real GDP growth for the first quarter of FY 2022-23 is projected at 17.2 per cent.

Meanwhile, the RBI on Friday kept the repo rate unchanged for the eighth time straight and continued with an accommodative stance.

The repo rate — the central bank’s lending rate — remains unchanged at 4 per cent and the reverse repo rate — borrowing rate — at 3.35 per cent.