CPI inflation hit a 77-month low of 2.1% in June 2025, but the RBI sees upward risks ahead.

• Food inflation turned negative at -0.2% in June, aided by strong agri output and supply-side steps.
• Core inflation rose to 4.4% in June, driven partly by surging gold prices and steady underlying demand.
• RBI expects CPI inflation to rise above 4% from Q4 FY26, despite the current easing in food price momentum.