Why is extreme weather posing a risk to inflation according to RBI Bulletin

The Reserve Bank of India's April Bulletin highlights the risk of inflation due to extreme weather conditions and geopolitical tensions. The retail inflation based on the CPI has eased to 4.9% in March. The global growth momentum has been sustained in the first quarter of 2024, and the outlook for world trade is positive. India's economy is poised for growth, with conditions supporting an uptick in real GDP growth.
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