RETAIL INFLATION IS LIKELY TO BREACH 6% IN OCT: REPORT
The Daily Guardian|November 11, 2024
Union Bank of India's report noted RBI's mention of October's inflation "hump" but warned November's inflation remains similarly high.
RETAIL INFLATION IS LIKELY TO BREACH 6% IN OCT: REPORT

The continued spurt in food prices and fading of the high base effect likely led to a spike in October retail inflation figures. According to a report by the Union Bank of India, retail inflation based on the Consumer Price Index is seen jumping to 6.15 per cent, breaching RBI's 6 per cent tolerance band.

Retail inflation data for October is scheduled to be released on Monday evening. India's retail inflation for September reached 5.49 per cent from 3.65 per cent in August, reflecting an uptick primarily due to higher food prices.

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