The continued spurt in food prices and fading of the high base effect likely led to a spike in October retail inflation figures. According to a report by the Union Bank of India, retail inflation based on the Consumer Price Index is seen jumping to 6.15 per cent, breaching RBI's 6 per cent tolerance band.
Retail inflation data for October is scheduled to be released on Monday evening. India's retail inflation for September reached 5.49 per cent from 3.65 per cent in August, reflecting an uptick primarily due to higher food prices.
This story is from the November 11, 2024 edition of The Daily Guardian.
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This story is from the November 11, 2024 edition of The Daily Guardian.
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