Live
- ‘Lovely experienced personal pain over last 2 to 3 months', says Congress leader Sandeep Dikshit
- YS Jagan cautions the people of NDA alliance, says they would deceive people
- SC to hear CM Kejriwal's plea against ED arrest on Monday
- Ayurvedic medicines seized in Telangana over misleading ads
- Ballia SP candidate booked for spreading hatred, threatening official
- Brother-sister want to take away property & mangalsutra for their vote bank, won’t allow it, says PM Modi
- Citizens of Bengaluru, why are you so indifferent to exercise your right to vote?
- Ad-free movies in theatres?
- Warangal: Nataraja in the eye of a needle
- Stray cattle menace key poll issue for farmers in western UP
Retail inflation falls to 5-month low of 4.87% in Oct
India's retail inflation eased to a 5-month low of 4.87 per cent in October bringing much-needed relief to consumers, according to figures released by the National Statistics Office on Monday
New Delhi : India's retail inflation eased to a 5-month low of 4.87 per cent in October bringing much-needed relief to consumers, according to figures released by the National Statistics Office on Monday. Sequentially, too, the inflation rate is lower than the corresponding figure of 5.02 per cent recorded in September.
There was a decline in fuel prices compared to the previous year as the government has reduced LPG prices in the run-up to key assembly elections in states which will be followed by the Lok Sabha polls in the first half of next year.
Food inflation, which accounts for close to half of the overall consumer price index (CPI), stood at 6.71 per cent in October compared to 6.56 per cent in September. The price of edible oils declined by 13.69 per cent and vegetable prices remained in check bringing relief to consumers.
However, pulses continue to remain an area of concern as prices went up by 18.79 per cent during the month and spices turned costlier by a whopping 22.76 per cent. Cereals including wheat and rice also recorded a double digit rise of 10.69 per cent during the month.
The consumer price inflation is now closer to the 4 per cent midpoint of the RBI's 2-6 per cent target range and will enable the central bank to keep interest rates on hold going ahead even as there is a downside risk due to the uncertainty in global crude oil prices which could push up inflation.
The decline in the inflation rate is in line with the expectation of the RBI, which had kept its key interest rate unchanged to push up the country's economic growth rate.
However, according to economists, there is still a need to be cautious as the effects of the erratic monsoon this year still has to play out which could impact food prices and geopolitical tensions such as the Israel-Hamas conflict may roil the oil markets.
