India’s June Inflation Looks Like It’s Around 5%, Says RBI Boss

Mumbai, July 11 – So, India's inflation rate for June is probably gonna be pretty close to 5%, which is what the Reserve Bank of India (RBI) was expecting. But here's the kicker: that's still higher than the 4% they're aiming for, so don't hold your breath for lower interest rates just yet, says RBI Governor Shaktikanta Das.

Das chatted with CNBC-TV18 and basically said, "Let's not get ahead of ourselves, guys. We can't start talking about changing our money strategy until inflation is closer to our 4% goal." The central bank's playing it safe, you know?

Economists had a little guessing game and came up with 4.8% for June's inflation, a tiny bump from May's 4.75%. We'll get the real deal on Friday when the numbers drop.

For the eighth time in a row, the RBI decided to keep their main interest rate steady. They're playing it cool because inflation keeps jumping around. But get this, two of the six big shots on the Monetary Policy Committee actually wanted to drop rates last time they met. So, there's some disagreement going on there.

Das made it clear that their main job is to hit that sweet 4% inflation target. So, don't expect them to mess with the policy until they see some serious progress on that front.

Why's this all important? Well, India's inflation situation is a bit of a rollercoaster with global stuff like commodity prices and local stuff like demand and supply issues throwing it off. The RBI's gotta keep everyone happy by keeping the economy steady and prices in check.

So, we're all waiting for that inflation data on Friday like it's the season finale of our favorite show. It'll give us a hint about what the RBI's gonna do next with their money moves.