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Increase in India’s Retail Inflation By 7.61% in October

Author : NewsGram Desk

India retail inflation rose in October with the Consumer Price Index (CPI) at 7.61 percent compared to 7.27 percent in September.

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The CPI increase for the month of September was, however, revised to 7.27 percent from 7.34 percent.

The rise in food prices lifted retail inflation higher. The Consumer Food Price Index increased to 11.07 percent in October from 10.68 percent in September.

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Inflation is a major factor in the Reserve Bank India's decision on repo rate as low lending rates may raise inflation. In its bi-monthly monetary policy meeting in October, the RBI kept its key interest rates unchanged and decided to maintain its accommodative monetary policy stance to support growth amid the pandemic. (IANS)

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