Retail inflation rises marginally to 3.58% in Oct; touches seven-month high

Retail inflation has been steadily rising since June

India's retail inflation picked up in October to a seven-month high, driven by faster rises in prices of food and fuel products, dampening chances of an interest rate cut by the central bank next month.

India's annual consumer inflation in October increased to 3.58 per cent from a year earlier, government data showed on Monday.

Analysts polled by Reuters had expected October's CPI inflation rate would edge up to 3.46 per cent from September's 3.28 per cent.

Some analysts expect India's decision on Friday to slash tax rates on 178 items such as chocolates and detergent powders to 18 per cent from 28