With March Consumer Price Index (CPI) based retail inflation eased to a five-month low of 4.85 per cent mainly due to cooling food prices, experts and economists estimated FY25 inflation to average 4.5 per cent. “Taking the data and early price indicators for April into account, we are tracking CPI inflation for April at 4.8 per cent YoY. While vegetable prices are currently showing some increase (especially for potatoes), the effect from the reduction in LPG prices as well as petrol and diesel prices should continue to have a dampening impact on April inflation. For now, we do not expect a significant passthrough from higher brent prices to affect India’s inflation, with the government likely to maintain retail prices, especially because of elections. For FY24-25, we expect inflation to average 4.5 per cent,” said Shreya Sodhani, Regional Economist, Barclays.