India's retail inflation rate inched up to 4.48 per cent in the demand-driven festive month of October from 4.35 per cent in September, reversing the four-month downward trend. Core inflation, which relates to non-food and non-oil items, rose to 5.8 per cent in the month after remaining stagnant at 5.6 per cent in August and September, substantiating the concern raised by the finance ministry in its recent report.
Core inflation generally guides the Reserve Bank of India's monetary policy committee (MPC) to decide on its stance since food and fuel inflation rates are uncertain by their very nature. However, economists expect the MPC to be gradual in its policy normalisation. Urban areas bore the brunt of the rise in inflation, surging to 5.04 per cent from 4.57 per cent. Villages, on the other hand, sawa decline in the rate of price rise in the period, from 4.13 per cent to 4.07.
In its latest monthly review, the department of economic affairs under the finance ministry had sounded a note of caution on core inflation, saying it remained sticky. The report attributed core inflation to the hardening of input costs and the ripple effect of the escalating global oil prices.
The core inflation rate has remained in the range of 5.55.9 per cent for over a year now.
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هذه القصة مأخوذة من طبعة November 13, 2021 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.
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