Retail inflation breached the Reserve Bank's upper tolerance level, soaring to a 14-month high of 6.21 per cent in October mainly on account of rising food prices.Inflation based on the consumer price index (CPI) was 5.49 per cent in September and 4.87 per cent in the year-ago month. Retail inflation trended below the RBI's upper tolerance band of 6 per cent since September last year.The RBI, which mainly factors in the CPI while arriving at its bimonthly monetary policy, has been tasked by the government to ensure retail inflation remains at 4 per cent with a margin of 2 per cent on either side. According to the data released by the National Statistics Office (NSO) on Tuesday, inflation in the food basket increased to 10.87 per cent in October, compared to 9.24 per cent in September and 6.61 per cent in October 2023."Year-on-year inflation rate based on CPI for the month of October 2024 is 6.21 per cent. Corresponding inflation rates for rural and urban are 6.68 per cent and 5.62 per cent, respectively," NSO said.

Inflation at 14-month high of 6.2% in Oct

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