Will strive to get CPI down to 4 pc; El Nino a challenge for food inflation: Das

Mumbai, Jun 25 (PTI) Governor Shaktikanta Das has said the Reserve Bank will strive to get headline inflation to its 4 per cent target but flagged El Nino as a challenge to its efforts.

In an exclusive interview with PTI Bhasha at his office here, Das exuded confidence that the economy will grow at 6.5 per cent in FY24, as estimated by the RBI earlier.  The central bank's rate hikes by a cumulative 2.50 per cent since May last year, coupled with supply-side measures from the government, have helped get the inflation down to 4.25 per cent in May from a peak of 7.8 per cent in April last year, Das said.

"We continue to be watchful on the inflation front. We expect inflation to be at 5.1 per cent in FY24, and we will continue to strive and get it down to 4 per cent," he added.