Board Exam Result 2019

Retail inflation rises marginally to 3.58 per cent in Oct, touches seven-month high

New Delhi, News Nation Bureau | Updated : 13 November 2017, 07:27 PM

India's retail inflation witnessed a marginal rise of 3.58 per cent  for the month of October. The rise in the CPI was driven by faster rises in prices of food and fuel products, dampening chances of an interest rate cut by the central bank next month.

India's annual consumer inflation in October increased to 3.58 per cent from a year earlier, government data showed on Monday. Analysts polled by Reuters had expected October's CPI inflation rate would edge up to 3.46 per cent from September's 3.28 per cent.

Some analysts expect India's decision on Friday to slash tax rates on 178 items such as chocolates and detergent powders to 18 per cent from 28 per cent could marginally lower retail inflation in coming months.

First Published: Monday, November 13, 2017 07:20 PM
For all the latest Business News Download the News Nation App available on Android and iOS.