Today's Ten: Food costs fuel October inflation surge, rate cut hopes dim
By Pragadish Kirubakaran in Media News on Wednesday, 13th November 2024 at 3:19pmIn October, India's retail inflation surged to a 14-month high of 6.2 per cent, driven predominantly by soaring food prices. The spike, reported by The Hindu's Vikas Dhoot and Times of India, marks an increase beyond the Reserve Bank of India’s (RBI) upper tolerance limit of 6 per cent, rekindling economic concerns ahead of the festive season. While initially expecting inflation to cool and even exploring the possibility of rate cuts, the central bank now faces limited options as consumer inflation pressures weigh heavily on policy expectations.
October’s inflationary pressure was largely fuelled by increased food prices, especially in categories like vegetables, fruits, and meats, as detailed by Aanchal Magazine for the Indian Express. In particular, seasonal shifts and uneven mo...
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