Core inflation still remains elevated, may not fall below 5% in FY24

The core inflation has remained stuck in the range of 5-6.6 per cent for over two years

Along with overall retail price inflation, core inflation (relating to the non-food, non-fuel items) came down in April below six per cent for the first time in 11 months.

Core inflation fell to an 11-month low of 5.7 per cent in April from six per cent in the previous month. Overall inflation declined to an 18-month low of 4.7 per cent in April from 5.7 per cent in the previous month. This was the second month in a row when overall inflation came down below the Reserve Bank of India (RBI)'s upper limit of six per cent.

The core inflation