New Delhi: The general public is expecting a softening in inflation. The State Bank of India (SBI) has released a research report on the inflation rate in the country. According to this report, the general public will not get relief from inflation at the moment. Inflation rate may remain around 5 percent in the current financial year 2024-25. However, slight relief from inflation is expected in September and October.

The Reserve Bank of India (RBI) is focused on controlling inflation in the country. The Consumer Price Index (CPI) was 5.08 percent in June. Inflation is rising due to the rise in food prices.

If the prices of food items do not come down, then the inflation rate may remain around 5 percent this year. However, the inflation rate is expected to fall in September 2024 and October 2024.

Monsoon was also the reason

According to the SBI report, food items also became expensive due to monsoon. Due to heavy rains, the crop was destroyed and the rains also affected transportation. However, the current monsoon is quite satisfactory. So far, the monsoon is progressing with a surplus of 2 percent. 2.9 percent progress is also being seen in the area of ​​​​kharif crops. In such a situation, it is expected that inflation will remain within the RBI target in the financial year 2025.

RBI MPC Meeting

The monetary policy review meeting of the Reserve Bank of India will start from 6 August 2024. Apart from the repo rate, many other decisions will also be taken in this meeting. In such a situation, it is expected that the central bank will decide not to change the repo rate to achieve inflation targets and support sustainable economic growth. Let us tell you that the decisions taken in the RBI MPC meeting (RBI MPC Meet 2024) will be announced on 8 August 2024.