Retail Inflation (CPI): Retail inflation rose to 4.62 per cent in October, from 3.99 per cent in September 2019.
New Delhi: The October month data related to retail inflation has come. According to government data, retail inflation has reached 4.62 per cent in October, up from 3.99 per cent in the previous month. Retail inflation has outpaced the RBI’s estimate of 4 per cent in October. The first time since July 2018 when retail inflation reached this level.
The RBI also estimated CPI to be higher this time. According to the government data released on Tuesday, inflation has reached 4.62 percent, which was at 3.99 percent in the month of September. Inflation is measured on the basis of CPI (Consumer Price Index). The CPI was 3.38 per cent in October last year.
According to the data, consumer food price inflation has gone up to 7.8 per cent from 5.1 per cent in September. However, pulses inflation stood at 11.72 per cent. Food inflation has gone up by 1.83% in the last few months this year. At the same time, textile and footwear inflation has increased to 1.64 percent, which was 0.96 percent last month.
It is worth noting that retail inflation in India has been an average of 5.98% in the years 2012 to 2019. Meanwhile, in November 2013, inflation had touched an all-time high of 12.17 per cent. Whereas the lowest was 1.54 percent in June 2017. The RBI had estimated that consumer price inflation would be 3.5 to 3.7 per cent in the second half of 2019-20.