India: Consumer price inflation accelerates in October
In October, consumer prices rose 1.09% compared to the previous month, up from the 0.55% increase in September. The increase was largely due to more expensive food and beverages, which, as a category, account for over half of the weight of India’s consumer price basket.
Consumer price inflation accelerated to 4.6% in October from 4.0% in September. As a result, inflation surpassed the 4.0% midpoint of the Reserve Bank of India’s (RBI) target range of 2.0%–6.0%.
Wholesale prices decreased 0.74% in October compared to the previous month, down from the 0.08% fall in September. Wholesale price inflation, meanwhile, slowed to 0.2% in October from 0.3% in September.