NEW DELHI, Nov 12: Retail inflation in India jumped to 6.21% in October, up from 5.49% in September, mainly fueled by soaring food prices, according to data released by the National Statistics Office (NSO) on Tuesday. This sharp increase has pushed inflation beyond the Reserve Bank of India’s (RBI) upper tolerance limit of 6%, signaling possible concerns for both policymakers and consumers.
The inflation rate, calculated based on the Consumer Price Index (CPI), showed a significant rise from 4.87% in October 2023, marking a year-on-year spike largely attributed to a surging food basket inflation. Food inflation alone climbed to 10.87% in October, up from 9.24% in September and substantially higher than the 6.61% rate recorded during the same period last year. The recent surge reflects the pressures of higher prices on staples and essential food items, impacting households nationwide.