Retail inflation rose to 6.21 per cent in October from 5.49 per cent in the preceding month mainly due to higher food prices, breaching the Reserve Bank of India’s (RBI’s) upper tolerance level, according to official data released on Tuesday.
The consumer price index-based inflation was 4.87 per cent in October 2023. The National Statistics Office data showed that inflation in the food basket rose to 10.87 per cent in October from 9.24 per cent in September and 6.61 per cent in the year-ago month.
The RBI, which kept the key short-term lending rate unchanged earlier this month, has been tasked by the government to ensure inflation remains at 4 per cent with a margin of 2 per cent on either side.
