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HomeEconomyRetail inflation reaches 7.61% in October due to rise in food prices

Retail inflation reaches 7.61% in October due to rise in food prices

As per the data, Consumer Food Price Index rose to 11.07% in October, up from 10.68% in the previous month.

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New Delhi: Driven by rising food prices, retail inflation inched up to 7.61 per cent in October, remaining above the comfort level of the Reserve Bank.

According to the Consumer Price Index (CPI) data released by the government on Thursday, inflation stood at 7.27 per cent in September 2020. It was 4.62 per cent in October 2019.

The rise in general inflation was mainly on account of elevated food prices.

As per the data, the Consumer Food Price Index (CFPI) rose to 11.07 per cent in October, up from 10.68 per cent in the previous month of September.

The RBI, which mainly factors in retail inflation while arriving at key policy rates, has been mandated by the government to keep inflation at 4 per cent (+, – 2 per cent).

Also read: Moody’s raises India’s 2020 GDP growth forecast to -8.9% from -9.6%


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