Home Retail November retail inflation at 4.88 pc crosses RBI’s median mark

    November retail inflation at 4.88 pc crosses RBI’s median mark

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    A sharp spurt in food and fuel prices pushed India’s annual retail inflation in November over the RBI’s median level of 4 per cent mark, official data showed on Tuesday.

    November retail inflation at 4.88 pc crosses RBI's median mark
    According to the data from the Ministry of Statistics & Programme Implementation, October's consumer price index (CPI) inflation rose during the month to 4.88 per cent from 3.58 per cent reported for October

    According to the data from the Ministry of Statistics & Programme Implementation, October’s consumer price index (CPI) inflation rose during the month to 4.88 per cent from 3.58 per cent reported for October.

    Consumer inflation rose to 4.88 per cent in November from 3.58 per cent in October and 3.63 per cent in the year earlier, according to the Central Statistics Office. The simultaneously released Index of Industrial Production (IIP) grew 2.2 per cent in October, down from an upwardly revised 4.1 per cent in September and 4.2 per cent in the year earlier.

    Mainly driven by the sharp rise in vegetables prices, consumer inflation was well above the 4.2 per cent estimated by independent experts and exceeded the RBI’s forecast of 4.2-4.6 per cent for the second half of the year.