Retail inflation surges up to 4.62% on back of high food prices

The retail inflation in October rose to 4.62 per cent due to higher prices of food items, according to data released by the Central government on Wednesday.

The retail inflation in October rose to 4.62 per cent due to higher prices of food items, according to data released by the Central government on Wednesday. The retail inflation was higher than the Reserve Bank of India's (RBI) target level of 4 per cent. The CPI-based inflation rate stood at 3.99 per cent in September while it was 3.38 per cent in October last year.

Driven by elevated food prices, the Consumer Food Price Index (CFPI) for October 2019 in India combined, aggregating both rural and urban, reached 7.89 per cent as against 5.11 per cent in the previous month. The floods in Maharashtra and other states had led to an increase in prices of onions and other farm produce across the country. (ANI)