India’s 14-month high retail inflation fades hope of December rate cut
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1 month, 1 week ago

India’s 14-month high retail inflation fades hope of December rate cut

Live Mint  

New Delhi: India’s retail inflation accelerated in October to its highest in over a year largely due to heated food prices, tempering expectations of a rate cut when the central bank’s monetary policy panel meets early next month. India’s retail inflation also breached the Reserve Bank of India’s medium-term target of 2-6% for the first time in over a year—which, some economists say, pushes the possibility of a rate cut to February. India’s annual retail inflation, based on the All India Consumer Price Index, rose to 6.1% in October from 5.49% in September and 3.65% in August, according to data released on Tuesday by the ministry of statistics and programme implementation. “The numbers for the last two months remaining above RBI’s target level of 4% has further receded the rate cut expectations in the next month,” said Sujan Hajra, chief economist and executive director, Anand Rathi Shares and Stock Brokers.

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