Octretailinflation fallsto6.77% y/yon backoffoodprices

NEW DELHI: India’s retail inflation eased to 6.77% in October against 7.41% in the preceding month, mainly due to easing prices in the food basket, government data showed on Monday. However, the numbers remained above Reserve Bank’s comfort level for the 10th month in a row.

The Consumer Price Index (CPI)-based retail inflation has remained above the 6% target since January this year.

As per the latest data released by the National Statistical Office (NSO), the inflation in the food basket was 7.01% in October as against 8.6% in September.

The retail inflation, which the RBI factors in while deciding its periodic monetary policy, was 4.48% in October 2021.

Food inflation, which accounts for nearly 40% of the CPI basket, rose 7.01% in October compared to 8.60% in September.

Month on month retail inflation rose 0.80% in October compared to the previous month while retail food inflation rose 1.08% - reflecting inflationary pressures in the economy.

Economists said although inflation had peaked in India, the easing process was likely to remain slow, and it could take up to two years before the inflation rate eased to 4% - the middle