India Inflation October 2021

India

India: Inflation ticks up in October

November 12, 2021

Consumer prices increased 1.41% from the previous month in October, accelerating from September's 0.18% increase. Looking at the details of the release, food and beverages prices jumped in October compared to the previous month and price pressures for fuel and light intensified.

Inflation rose from 4.3% in September to 4.5% in October. That being said, the trend pointed down mildly, with annual average inflation coming in at 5.2% in October (September: 5.5%).

Commenting on the outlook for inflation next year, analysts at the EIU noted:

“Inflationary pressures from a strong anticipated recovery in domestic demand will be offset by tighter monetary policy settings and a slower rise in commodity prices.”

Our panel projects inflation to average 4.8% in FY 2021, which is up 0.1 percentage points from last month’s forecast, and 4.5% in FY 2022.


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