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October retail inflation touches 7-month high, vegetable prices soar

Grew at 3.58%, mainly due an increase in prices of consumer food items

October retail inflation touches 7-month high

Consumer Price Index (CPI)-based inflation rose to this financial year’s highest rate of 3.58 per cent in October, from 3.28 per cent in September, food and fuel prices increasing at a higher pace. This could stop the Reserve Bank of India (RBI) from cutting rates in its policy review next month to spur falling industrial growth even as core inflation (relating to manufactured products sans food items) fell to 4.55 per cent, from 4.61 per cent. However, inflation in various household goods and services declined, implying the goods and services tax (GST) did ...