The Reserve Bank of India (RBI) on Wednesday raised the forecast for the retail inflation for the current fiscal year to 5.2 per cent from its earlier estimate of 5 per cent, amid elevated crude oil prices and a weaker monsoon season. 

"The near-term outlook on inflation points towards continued pressures from supply side, on account of the deficient Southwest monsoon, El Nino conditions and high volatility in international oil prices. Price pressures are increasingly becoming visible across a range of commodities within the food component, apart from oil," RBI Governor said after the three-day Monetary Policy Committee (MPC) meeting.