Food and fuel prices push India's retail inflation in October

13 November, 2017, 19:30 | Author: Valerie Burke
  • CPI Inflation for October 2017 today here's what analysts expect

India's inflation accelerated more-than-expected in October after holding steady in the previous month, preliminary data from the Central Statistics Office showed Monday. In addition to this, Consumer Food Price Index (CFPI) for all India Rural, Urban and Combined are also being released for October 2017, the departmental release said.

The Consumer Price Index (CPI) for October has went up by 3.58 per cent in comparison to same period past year.

"A sharp increase of 30 basis points in overall inflation to 3.58 percent on the back of an increase of 50 basis points in food inflation, and an uptick of 80 bps in fuel inflation rules out a remote chance of policy rate cut in December".

Stripping the housing index, core inflation decelerated from 4.20 percent in September to 3.97 percent, implying that demand side pressures continue to be modest. The panel left rates unchanged in its October review.

Meanwhile, core inflation eased slightly in the month to 4.55 percent in October from September's 4.61 percent. However, there is a risk that a surge in crude oil prices and recent softness in the Indian rupee might affect the imported inflation component.

Data further showed that retail inflation in eggs, vegetables, pulses and spices were -0.69%, 7.47%, -23.13% and -2.15%, respectively.

Housing inflation grew marginally at 6.68 percent in October from 6.1 percent in September.



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