Retail inflation cools to 3.31% in October, was at 3.70% in September

WION Web Team

Delhi, IndiaUpdated: Nov 12, 2018, 06:37 PM IST

File photo: A watchman stands next to heaps of sacks filled with paddy at a wholesale grain market in Chandigarh. Photograph:(Reuters)

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The Reserve Bank of India has been mandated to keep retail inflation at 4 per cent level, with a margin of 2 per cent on either side.

Retail inflation eased to 3.31 per cent in October from 3.70 per cent which was recorded in September, news agency ANI reported on Monday.

Meanwhile, consumer inflation was at around 6.1 per cent in October, compared with around 5.8 per cent in September, Reuters reported. India's September industrial output grew 4.5 per cent.

Earlier in August, retail inflation cooled to an 11-month low of 3.69 per cent. Experts attributed the drop mainly to a fall in prices of kitchen items, including fruits and vegetables.

Retail inflation reduces to 3.31% in October from 3.70% in September pic.twitter.com/pGEAGgEiZt
— ANI (@ANI) November 12, 2018

The inflation based on the Consumer Price Index (CPI) stood at 4.17 per cent in July and 3.28 per cent in August 2017, news agency PTI reported. In October 2017, the CPI was recorded at 3.58 per cent.

The Reserve Bank of India has been mandated to keep retail inflation at 4 per cent level, with a margin of 2 per cent on either side.

(With inputs from agencies)