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.

Recommended:



Popular

Olympic gymnast Aly Raisman: I was abused by doctor
Every single kid is important and I want USA Gymnastics to do a better job with that, ' said Raisman. He pleaded guilty to child pornography charges but not guilty to charges of sexual assault.

Long Island weather: Rain likely, highs in mid 40s
Partly cloudy skies stick around throughout much of the day as temperatures only climb into the mid-upper 40's for highs. Look for an early mix of light snow, rain and freezing rain first thing this morning, especially along the stateline.

Ride hailing service Lyft expanding to Canada
Last year, city council voted in favour of a package of regulations that effectively legalized ridesharing services in Toronto. The company announced Monday that it is coming to Toronto in what will be its first expansion outside of the United States.

GQ Names Colin Kaepernick 'Citizen of the Year'
Kaepernick has leveraged that platform into delivering a message that has been impossible for any American to ignore. Gentleman's Quarterly magazine has dubbed the controversial Colin Kaepernick 'citizen of the year '.

D'Angelo Russell to Miss Several Games with Knee Injury
The absence of Russell and Dinwiddie likely leaves reserves Isaiah Whitehead and Caris Levert to log starting point guard duties. The Nets are scheduled to return home Tuesday against the Boston Celtics and host the Golden State Warriors next Sunday.