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Title : The Reserve Bank will prioritize growth during the April meeting
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The Reserve Bank will prioritize growth during the April meeting

New Delhi: The Reserve Bank of India (RBI) is expected to prioritize growth over inflation fears at its April 2022 policy meeting. Consumer price index (CPI) inflation remained high as vegetable prices were higher than expected in February. Moreover, inflation is expected to remain high in the coming months due to the rise in crude oil prices due to the Russia-Ukraine crisis.

“However, we still expect the Reserve Bank to prioritize growth at its April 2022 monetary policy meeting because growth is still a bigger concern than inflation,” Motilal Oswal Financial Services said. “We expect inflation to be in the range of 5.2-5.4 per cent per annum in FY22.”

Earlier this month, CBI inflation was at an eight-month high of 6.1 per cent in February 2022. Besides, food inflation rose to a 15-month high of 5.8 per cent in February 2022 from 5.4 per cent a year earlier. Before.

“In the diet, vegetables were the main cause of inflation. Excluding vegetables, the CPI came in at 6.1 per cent a year, the same level as in January 2022.”

“Cereals and goods, meat and fish, spices, sugar and confectionery also make up 17 per cent of the CPI.”

In contrast, fuel and electricity inflation stood at 8.7 percent in February 2022, the lowest level in 10 months. Moreover, headline inflation stood at 6.2 per cent for the fifth consecutive month in February 2022.

“All three components of major inflation remained broadly flat with no major movements.” “Slightly higher inflation at home, and offset by somewhat lower inflation in clothing and footwear.”

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