RBI projects FY27 inflation at 4.6%, flags El Nino and conflict risks

​”CPI inflation for 2026-27 is projected at 4.6 per cent with Q1 at 4.0 per cent; Q2 at 4.4 per cent; Q3 at 5.2 per cent; and Q4 at 4.7 per cent. Core inflation is projected at 4.4 per cent. Excluding precious metals, core inflation is even lower indicating that underlying inflation pressures are expected to remain contained. The risks are on the upside,” RBI governor Sanjay Malhotra said in s Monetary Policy Statement.