No relief for Indians, as inflation rise further to 5.81% in October because of food price surge
1 month, 1 week ago

No relief for Indians, as inflation rise further to 5.81% in October because of food price surge

Live Mint  

Consumer price inflation in India climbed to a 14-month high of 5.81% in October primarily due to a spike in vegetable and edible oil prices, a Reuters poll of economists predicted, a shade below the central bank's tolerance threshold of 6.0%. Annual retail inflation as measured by the consumer price index likely rose a second straight month to 5.81% in October, the highest since August 2023, according to the median forecast from a Nov. 4-8 Reuters poll of 52 economists. "Going forward, rising intensity of climate risks, weaker currency against a stronger dollar and geopolitical risks might pose further upside risks to inflation," she said. However, with inflation not expected to return to the 4% medium-term target until at least 2026, economists in the poll cautioned that rate cut could be delayed until early next year.

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