Reserve Bank Governor Shaktikanta Das stated on Wednesday that inflation has moderated and the next reading is expected to be lower than 4.7 percent, although caution must be exercised as the battle against inflation continues.

The retail inflation rate dropped to an 18-month low of 4.7 percent in April, primarily due to a decline in food prices. Addressing members of the Confederation of Indian Industry (CII), Das acknowledged the moderation in inflation and expressed optimism about the next reading being even lower.