India's retail inflation rose to 6.09 per cent in October on higher food prices, its highest in two years; in October 2024 it was 6.25 per cent. It has now crossed the 6 per cent upper limit the Reserve Bank of India sets for inflation control.
Figures from India's Ministry of Statistics and Programme Implementation show retail inflation was 5.54 per cent in September, so it rose 0.55 percentage points in a month. Over the same period food inflation climbed from 7.74 to 8.94 per cent.
Onion rose the most in October, up 116.22 per cent on a year earlier. Garlic rose 60.74 per cent, ginger 48.32 per cent and lemon 47.30 per cent. Outside food, gold jewellery rose 52.39 per cent.
The Reserve Bank aims to keep inflation between 2 and 6 per cent, and crossing the ceiling may put fresh pressure on it. Its monetary policy committee is due to meet from 2 to 4 December. Last October, for the first time in nearly four years, it raised the policy rate by 0.25 percentage points to 5.50 per cent.
The report is from Amar Desh Online, citing NDTV.
Photo: McKay Savage / Wikimedia Commons (CC BY 2.0)
Source: Amar Desh
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