Annual retail inflation in October was higher compared with 3.99% in the previous month and analysts’ forecasts.
Agencies
Updated:November 13, 2019, 5:48 PM IST
Photo for representation.
(Image: Reuters)
New Delhi: India’s retail inflation rate rose to 4.62% in October, driven by higher food prices, the government said on Wednesday.
The inflation based on Consumer Price Index (CPI) was 3.99 per cent in September and 3.38 per cent in October 2018. The inflation in the food basket spiked to 7.89 per cent in October 2019 as against 5.11 per cent the preceding month.
The Reserve Bank mainly factors in the CPI based inflation to arrive at its bi-monthly monetary policy. The RBI has been asked to keep the retail inflation at around 4 per cent.
Annual retail inflation in October was higher compared with 3.99% in the previous month and analysts’ forecasts.
Analysts polled by Reuters had forecast a retail inflation rate of 4.25% for October.
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Source: News18