One obvious example here is housing, with the rate of population growth recently exceeding the rate of increase in the number of dwellings for the first time in many decades. One result of this is that rental vacancy rates are generally low and rents are rising solidly, although recent rates of increase are below the pace of a year ago.
For the financial year 2022-23 (April-March) as a whole, the RBI has projected that headline CPI inflation would average 6.7 per cent.