High food inflation driven by a continued surge in vegetable prices, particularly onions, pushed overall inflation. Food price inflation (rural and urban) climbed 10.01% in November 2019, as against 7.89% in October 2019.
The RBI in its fifth bi-monthly monetary policy statement on 5 December 2019, revised retail inflation projection upwards to 4.7-5.1% for the second half of FY2020 and 3.8-4% for the first half of FY2021.
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