Inflation to align to the 4 percent target by FY'25-26: Michael Patra

Inflation is projected to align with the 4 percent target in the coming fiscal, according to Reserve Bank deputy governor Michael Patra. He mentioned climate change and digitisation as future challenges to monetary policy. Patra noted that inflation, which peaked at 7.8 percent in April 2022, is expected to average 4.5 percent in 2024-25.