RBI PROJECTS INFLATION TO FALL TO 5.3% IN FY24

New Delhi (PTI): The RBI on Wednesday projected retail inflation to ease to 5.3% in next fiscal from 6.5% this year on assumptions of lower imported inflation, even though core inflation remains sticky.

The RBI's inflation outlook for current fiscal has improved from 6.8% projected earlier, to 6.5%, on the back of steeper than expected decline in vegetable prices and Indian basket of crude at $95 a barrel.

"Looking ahead, while inflation is expected to moderate in 2023-24, it is likely to rule above the 4% target. The outlook is clouded by continuing uncertainties from geopolitical tensions, global financial market volatility, rising non-oil commodity prices and volatile crude oil prices. At the same