- India’s RBI governor, Shaktikanta Das, expressed concerns about India’s vulnerability to “recurring and overlapping” food price shocks.
- While recent inflation has moderated, the RBI remains watchful and actively focused on disinflation while supporting growth through monetary policy.
- Retail inflation in India eased to 5.02% in September but remains above the RBI’s 4% target.
- The central bank expects inflation to average 5.4% in fiscal year 2023-24, down from 6.7% in the previous fiscal year.
- Governor Das highlighted the challenges posed by recent developments in West Asia and mentioned the RBI’s efforts to bolster foreign exchange reserves for potential eventualities.