National Affairs

India’s Retail Inflation In October: Highest Since May 2014

India’s retail inflation jumped to the highest in more than six years as prices of vegetables and pulses soared. Consumer Price Index inflation stood at 7.61% in October—the highest since May 2014—compared with 7.27% in September, according to data released by the Ministry of Statistics and Program Implementation. A Bloomberg poll of 38 economists had pegged the retail inflation at 7.3% for October. Inflation in food and beverages rose to 10.16% in October from 9.73% in September. The retail inflation has now stayed above the Monetary Policy Committee’s target of 4% (+/-2) for the seventh straight month. Contrary to the central bank’s expectations, pressure on prices of key vegetables is yet to ebb.

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