Inflation Data: Inflation will not bother in the new year, relief will also be given from expensive EMI!

Relief From Inflation Likely: The new year 2023 is just around the corner. And the new year is going to bring relief for you. Because in the new year you are going to get a big relief from inflation. World Bank economist Dhruv Sharma believes that the retail inflation rate could come down to 5.1 per cent in the next financial year 2023-24. If this happens, you can also get relief from expensive EMI.

Retail inflation in RBI’s tolerance band

The World Bank economist said that the inflation rate in the next financial year is estimated to be 5.1 percent and it can be between 2 to 6 percent of the RBI’s tolerance band. He told that inflation has increased due to the huge jump in the prices of food items. At present, in the figures that have come for the month of October, the retail inflation rate has been 6.7 percent.

Possible relief from expensive EMI

In fact, in April 2022, the retail inflation rate had reached 7.79 percent. After which RBI started the process of increasing the interest rates. And after four consecutive monetary policy meetings, the RBI increased the repo rate from 4 per cent to 5.90 per cent. Due to increase in the repo rate, banks have increased the interest rates on all types of loans ranging from home loans. There has been a huge increase in the EMI of home loan customers. Firstly, inflation hit and on top of that the expensive EMI spoiled the budget of the people’s household. But according to the estimates of the World Bank, the inflation rate comes down to 5.1 percent, not only will there be a brake on the increase in the repo rate, but there can also be a cut in the repo rate. In such a situation, people can get relief from expensive EMI.

RBI also expects inflation to come down

RBI Governor Shaktikanta Das has also said that inflation may come down next year. Finance Minister Nirmala Sitharaman has also expressed hope of relief from inflation in the coming year. On December 7, RBI will again announce the loan policy. RBI’s stance on whose inflation can come to the fore.

News Reels

read this also

Budget 2023: Will FD up to Rs 5 lakh in banks be tax free?