The report said even as food CPI will remain elevated, core CPI will go below 3 per cent in this fiscal.
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But core inflation, which excludes the volatile components of food and fuel, stood at 3.3 per cent in October; this is its lowest in eight years
Inflation in the food basket spiked to 7.89 per cent in October 2019, against 5.11 per cent the previous month.
Prices of most vegetables climbed during the month as monsoon downpours delayed harvests and disrupted supplies.
The inflation print for vegetables shot up to 15.40 per cent during the month
CPI-based inflation for first half of the next fiscal, beginning April 2020, has been projected at 3.6 per cent
The inflation in the food basket was 2.36 per cent in July, marginally up from 2.25 per cent in the previous month
BENGALURU (Reuters) - India's retail inflation rose for the sixth straight month in July - the longest stretch of monthly increases since January 2016 - to a nine-month high, largely due to a continued rise in food prices, a Reuters poll predicted.
Annual retail inflation in June was 3.18%, up from 3.05% in the previous month.
According to the median consensus of 40 economists polled by Reuters between July 4-7, retail inflation rose at an annual rate of 3.20% in June, up from 3.05% in May
The previous high was in October 2018, when the retail inflation print came in at 3.38 per cent
Industrial production stood at 3.4 per cent compared to -0.1% in March.
The retail price inflation rose to a six-month high of 2.92 per cent in April, pushed up by costlier food items
The retail inflation based on Consumer Price Index (CPI) stood at 1.97 per cent in January and 4.44 per cent in February 2018
Economists expect RBI to cut repo rate at April meet too
The decline was due to a fall in food prices and smaller increases in fuel costs
The decline was helped by a fall in food prices and smaller increases in fuel costs.
Shaktikanta Das will chair the next monetary policy committee meeting in February
Vegetable prices fell by 8.06% in October against a 4.15 per cent contraction in September