India’s Oct retail inflation spikes to 4.62%

New Delhi,  A substantial rise in food prices lifted India’s October retail inflation to 4.62 per cent from 3.99 per cent in September, official data showed on Wednesday.

Similarly, on a year-on-year (YoY) basis, the Consumer Price Index (CPI) in October 2019 was higher than the corresponding period of last year when retail inflation stood at 3.38 per cent.

According to the data furnished by the National Statistical Office (NSO), the Consumer Food Price Index (CFPI) inflated to 7.89 per cent during the month under review from an expansion of 5.11 per cent in September 2019 and (-)0.86 per cent rise reported for the corresponding period of last year.

Significantly, the data indicated that retail inflation level has breached the medium-term target for consumer price index (CPI) inflation of 4 per cent.

The target is set within a band of +/- 2 per cent.

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