Retail inflation drops to 5-month low of 4.87% in October

12:30:00 AM, Tuesday 14th of November 2023 | in miscellaneous

India's retail inflation rate, as measured by the Consumer Price Index (CPI), dipped to a five-month low of 4.87% in October, according to the Ministry of Statistics and Programme Implementation. The decrease is credited to a favorable base effect and a drop in prices for certain items. However, the surge in onion prices restricted the decline in inflation. Economists had anticipated an inflation rate of approximately 4.8% year-on-year for October, making the actual figure largely consistent with predictions.