"Bright agricultural production prospects make the inflation outlook benign, despite existing price pressures in select food items. Early November trends signaled moderation in key food prices, though geopolitical factors may continue to impact domestic inflation and supply chains," it said.
Consumer price inflation increased to a 14-month high at 6.2 per cent in October, primarily driven by double-digit food inflation while core inflation remained range bound at 3.8 per cent.
The ministry's latest inflation outlook comes at a time when various government officials are nudging the Reserve Bank of India (RBI) towards a rate cut while the central bank remains firmly focused to bring down inflation on a sustained basis.
This story is from the November 26, 2024 edition of Business Standard.
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This story is from the November 26, 2024 edition of Business Standard.
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