Retail inflation surges to 4.62% in October on higher food prices

The rate of retail inflation, as measured by the Consumer Price Index (CPI) breached the Reserve Bank of India’s (RBI’s) medium-term target of 4 per cent in October, for the first time in 15 months, on the back of higher food prices.

The CPI-inflation rate had stood at 3.99 per cent in September and 3.38 per cent in October 2018.

Inflation in the food basket spiked to 7.89 per cent in October 2019, against 5.11 per cent the previous month. The RBI mainly