Inflation will average 5.2% next fiscal, assuming normal rains: RBI

According to RBI's 'Monetary Policy Report September 2022', average inflation will be 5.2% in 2023-24, assuming "a normal monsoon, a progressive normalisation of supply chains, and no further exogenous or policy shocks". The central bank is mandated to keep retail inflation in a range of 2-6%. The RBI recently hiked the repo rate to 5.9% to bring inflation under control.