Vegetable prices sizzle to 57-month high; Any respite in near-term? Experts weigh in
Live MintIndia's food inflation: India's retail inflation hit a worrying 14-month high of 6.2 per cent in October 2024, breaching the Reserve Bank of India 's medium-term tolerance band of two to six per cent for the first time in over a year. Decoding India's food inflation: Core, vegetables, other items India's core inflation rose to a 10-month high of four per cent in October 2024 from 3.8 per cent in September 2024, the highest level since November 2023. The inflation rate for oil and fats was 9.51 per cent compared to 2.47 per cent in the previous month, mostly due to an increase in edible oil prices. India's searing inflation print fades away RBI rate cut bets India's inflation numbers for the last two months, remaining above the RBI’s target level of four per cent, have further receded the rate cut expectations for next month. With the CPI inflation expected to exceed RBI's estimate for Q3 FY2025 by at least 60-70 bps, a rate cut in the December 2024 policy review appears ruled out by Aditi Nayar of ICRA as well, despite her projection of a sub-seven per cent GDP growth print for Q2 FY2025.
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