Retail inflation surges to 6.2% in October
The Hindu
India's retail inflation hits 6.2% in October, driven by a 10.9% spike in food prices, breaching RBI's upper limit.
India’s retail inflation surged further from the nine-month high of 5.5% in September to the highest level in well over a year of 6.2% in October, led by a 10.9% spike in food prices.
October’s price rise pace, the fastest in 14 months, also marked a breach of the Reserve Bank of India’s upper tolerance limit for inflation, with rural India facing a sharper uptick of 6.7%, while urban consumers encountered an inflation of 5.6%.
“High food inflation in October, 2024 is mainly due to increase in inflation of vegetables, fruits and oils and fats,” the National Statistical Office said, while noting a “significant decline in inflation” in Pulses, Eggs, Sugar, and Spices.
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India's retail inflation hits 6.2% in October, driven by a 10.9% spike in food prices, breaching RBI's upper limit.