Inflation Rate 2024 Predictions. The annual rate of inflation fell to 2.9 percent in july — the first time since 2021 that it has fallen below the 3 percent threshold. According to the data released by the national statistics office (nso), india’s retail inflation rate dropped to 5.09 percent in february 2024, the lowest in four months.

Look for the headline inflation rate to fall to 2% before the end of the summer, but then turn higher, ending the year around 2.7%. Their predictions come as federal reserve.