Retail inflation jumps to 4.62 pc in Oct

Retail inflation surged to 4.62 percent in October, mainly on account of higher food prices, according to government data released on Wednesday. The inflation based on the Consumer Price Index (CPI) was 3.99 percent in September and 3.38 percent in October 2018.

The inflation in the food basket spiked to 7.89 percent in October 2019 as against 5.11 percent the preceding month. The Reserve Bank mainly factors in the CPI-based inflation to arrive at its bi-monthly monetary policy.

The RBI has been asked to keep the retail inflation at around 4 percent.