As the Reserve Bank of India (RBI) is set to announce its decisions after the 55th meeting of the Monetary Policy Committee today, Bank of Baroda (BoB) said consumer price index (CPI) inflation could come in at 2.7% in May, sharply lower than 3.16% registered in April. This follows the BoB Essential Commodities Index (BoB ECI) entering the deflation territory in May, the sharpest fall noticed since January 2019. “The broader comfort will be provided by food inflation. Even globally, food and energy prices remain in favour.