New Delhi: Retail Inflation Based on the Consumer Price Index (CPI) for October rose at least 4.48 percent due to 4.35 percent recorded in September, the data issued by the government showed on Friday.
Meanwhile, industrial production rose 3.1 percent in September.
The inflation number remains in the comfort zone of the Bank of India (RBI) reserves for the fourth consecutive month now.
RBI is mainly factor in retail inflation while arriving in its bi-monthly monetary policy.
The Reserve Bank Monetary Policy Committee (MPC) has been assigned by the government to tame retail inflation based on the consumer price index (CPI) at 4 percent (+, – 2 percent).
Vegetable prices, especially the main ingredients in cooking such as onions and tomatoes, rose sharply after broken peregeric rain last month.
Global oil prices rally for a month, which drives gasoline prices.
However, the step center to cut the customs rate on gasoline and diesel is a significant positive step for inflation, the Governor of RBI Shaktikanta Das at a recent event.
The central bank previously marked a higher tax risk on fuel to the government and urged him to make policy decisions.
With controlled food inflation, Das hopes that inflation will be under the target of the central bank.
The RBI has reduced full-year retail inflation projections 2021-22 to 5.3 percent from 5.7 percent in October, said the inflation trajectory turned out to be more profitable than expected.
Globally, the increase in inflation rate has become a source of attention.
In a separate set of data issued by the center, industrial production rose 3.1 percent in September.
As per the industrial production data index (IIP) by the National Statistics Office (NSO), the manufacturing sector output jumped 2.7 percent on September 2021.