India's retail inflation probably fell in November from October but remained above the Reserve Bank of India's target, amid high food and petrol prices, a poll of economists showed
The rise in general inflation was mainly on account of elevated food prices
Clues for whether sticky price pressures could keep policy makers on pause for longer will be available when the minutes of the MPC's latest meeting are published Friday
Inflation above RBI's comfort zone of 6% for six straight months, Q2 inflation slightly higher than MPC's projection, MPC may refrain from cutting rate in December policy too
The rate of price rise in the food basket was 10.68 per cent in September compared to 9.05 per cent in August, as per the data released by the National Statistical Office
The compiled dataset comprises 1.3 million price data points covering 45 food items on a weekly basis across 85 centres in the country for the period 2005-18.
During a meeting, officers said retail prices of onion in Delhi were less as compared to last year
The phenomenon has caused a lot of problems, such as the spurt in food prices and disruption in supplies due to breakdown in the already Covid-19-battered transport in the hinterland
In foodgrains, rice production is estimated to be 102.36 million tonnes, which is 0.37 per cent more than 2019-20
This could be result of continued supply-side disruptions, say experts
Wholesale inflation rises above 0 after 4 months
Inflation in food articles during July stood at 4.08 per cent, as against 2.04 per cent in June
Official data released on Thursday showed that CPI for July rose 6.93 per cent year on year, up from 6.23 per cent in June
Food items showed a slight inflation of 1.13 per cent in May, but vegetable prices declined
The June 4-9 poll of 35 economists showed that the consumer price index (CPI) was forecast to rise to 5.50% in May compared with a year ago
The price decline has brought major relief to middle-class consumers at a time when Covid-19 has rendered millions of people jobless and millions of others underwent pay cuts
Prices are likely to rise again in April, according to analysts, with the actual impact of the Covid-19 and the resultant lockdown yet to be fully seen.
The latest numbers could increase the clamour for a rate cut by RBI's Monetary Policy Committee in its next meeting in April
The price of fresh vegetables rose 9.5% over a year ago
Some MLAs even lugged LPG cylinders on their back to protest the hike in their prices announced earlier this week