Inflation Rate 2024 Forecast India. The reserve bank of india has maintained its inflation forecast at 4.5% for this fiscal year, despite concerns over rising food and oil prices. The annual inflation rate based on all india consumer price index (cpi) number is 4.83% (provisional) for the month of april, 2024 (over april, 2023).

The rbi cannot ignore food. India inflation rate for 2022 was 6.70%, a 1.57% increase from 2021.