India’s Retail Inflation Drops To 4.87 Per Cent In October 2023

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India’s headline retail inflation rate fell to 4.87 percent in October, according to data released by the Ministry of Statistics and Programme Implementation on November 13, thanks to the combination of a favourable base effect and cooling prices of some items. However, rising onion prices kept the fall in inflation in check. Consumer Price Index (CPI) inflation print in September was 5.02 percent.

At 4.87 percent, the latest CPI inflation figure is broadly in line with expectations, with economists having predicted prices likely rose 4.8 percent year-on-year in October.