Retail Inflation Slips Below 5 Percent, Declines to 4.87 Percent in October from 5.02% in September

By Carolyne Adalla On Nov 14, 2023

Retail inflation declines to 4.87 per cent in October from 5.02 per cent in September: Govt data

Retail Inflation Slips Below 5 Percent, Declines to 4.87 Percent in October from 5.02% in September

Business news: Retail inflation has declined to 4.87 per cent in October from 5.02 per cent in September, according to the data released by Ministry of Statistics and Programme Implementation on Monday. The Consumer Price Index-based retail inflation had dropped to three-month low of 5.02 per cent in September. At 4.87 percent, the latest CPI inflation figure is broadly in line with expectations, with economists having predicted prices likely rose 4.8 percent year-on-year in October.

The Reserve Bank’s Monetary Policy Committee (MPC), in its October meeting, projected CPI inflation at 5.4 per cent for 2023-24, a moderation from 6.7 percent in 2022-23.

The government has tasked the RBI to ensure the CPI inflation remains at 4 per cent with a margin of 2 per cent on either side. The central bank mainly factors in the retail inflation while arriving at its bi-monthly monetary policy.

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