Retail inflation in October. (Image Source: iStock)
\n\nIndia's retail inflation accelerated sharply to 6.09 per cent in October, crossing the Reserve Bank of India's (RBI) upper tolerance threshold of 6 per cent for the first time in two years. The increase was primarily fuelled by a steep rise in food prices, which pushed food inflation to 8.94 per cent during the month. Data released by the Ministry of Statistics and Programme Implementation (MoSPI) on Thursday showed that consumer price pressures intensified compared with September, when Consumer Price Index (CPI)-based inflation was recorded at 5.54 per cent.
\n\nOctober's inflation reading is also the highest recorded since the introduction of the revised CPI series with 2024 as its base year. The RBI aims to keep inflation at 4 per cent, allowing for a margin of 2 percentage points on either side. The latest figures have therefore taken retail inflation beyond the central bank's prescribed comfort range.
\n\nFood Prices Drive October Inflation Higher
\n\nThe sharp increase in food costs emerged as the primary contributor to the rise in overall retail inflation. According to the Consumer Food Price Index (CFPI), food inflation climbed to 8.94 per cent in October, compared with 7.74 per cent…
Original source: https://www.timesnownews.com/business-economy
