RBI hikes FY25 inflation estimate to 4.8% amid food price concerns; CPI to remain elevated in Q3

The Reserve Bank of India (RBI) raised its inflation forecast for fiscal year 2025 to 4.8% due to a surge in food prices. Retail inflation hit 6.2% in October. While near-term inflation remains high, the RBI expects moderation in the fourth quarter due to easing vegetable prices and strong harvests. The RBI maintained its benchmark repo rate at 6.