India’s Retail Inflation rose to 4.62 Percent – October 2019
The CPI (Consumer Price Index) – Retail Inflation for the month of October 2019 has risen unexpectedly to 4.62 Percent. It was 3.99 Percent in the month of September 2019 and 3.38 Percent earlier which was seen in the month of October 2018.
For the First time Since July 2018, the retail inflation has exceeded the RBI’s Medium Term target of 4 Percent. The said inflation of 4.62 Percent has been increased due to rising of Food Prices.
Food Prices have increased to nearly 8 Percent in the month of October 2019. Vegetables prices rose by 26 Percent, Onion and Tomato prices are also risen due to unseasonable rains, Pulses rose by 11.72 Percent and Eggs by 6 Percent.
Meat and Fish were also rose by 9.75 Percent, Fruits by 4 Percent and Spices by 3.86 Percent and Milk Products by 3 Percent in the month of October. The Cost of Clothing and Footwear were also increased slightly. But the Fuel and Light Prices were fell down by two Percent.
The Rural Inflation for October 2019 was 4.29 Percent and for Urban CPI at 5.11 Percent. The said Rural and Urban Retail inflation is higher than the last September data. Depending on October CPI Retail Inflation, there is a possibility of change on Repo Rate in the upcoming Monetary Policy Committee.
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