Majority of Reserve Bank of India (RBI) monetary policy committee members expressed caution on upside risks to inflation, particularly emanating from uncertainties in food prices, at the panel’s policy review, showed the minutes of the meeting on April 19.

In March, India’s retail inflation eased to a ten-month low of 4.85 percent, as against 5.09 percent in February.

This data was released by the Ministry of Statistics and Programme Implementation on April 12.

The inflation numbers were lowest since May 2023, when it was at 4.31 percent.

The RBI projected CPI inflation for 2024-25 at 4.5 per cent with Q1 at 4.9 per cent; Q2 at 3.8 per cent; Q3 at 4.6 per cent; and Q4 at 4.5 per cent.