Spike in inflation largely due to costlier food items, say experts

Sat, 14 Dec 2019

Spike in inflation largely due to costlier food items, say experts

ANI
14 Nov 2019, 04:37 GMT+10

New Delhi [India], Nov 13 (ANI): The spike in retail inflation in October this year has largely been due to costlier food items, said experts on Wednesday.

"After remaining within the RBI's target of 4 per cent for 14 consecutive months (August 2018 to September 2019), Consumer Price Index (CPI) inflation in October 2019 increased to 4.62 per cent. The increase was mainly from consumer food price inflation, which increased to 7.89 in October 2019," said Dr Devendra Pant, chief economist at India Ratings and Research (Fitch Group).

The increase in October's CPI was led by seasonal items such as egg, fruit, vegetable, and pulses among others.

Madhavi Arora, Economist, FxRates, Edelweiss Securities, said inflation has been on account of an increase in the prices of vegetables.

"The inflation print has surprised on the upside on account of vegetable inflation in October. While food inflation has rocked the sub-4 per cent comfort for headline print, the YoY uptick in food prices comes after two consecutive years of slumping growth, specially built up in pulses and sugar, and the sequential increase remains comfortable on an average in FY20," said Arora in a statement. (ANI)

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to India Gazette.

More Information

17 ℃

Partly Cloudy in New Delhi/Sadfarjung

Business

Section

Confirmation of trade pact drives Wall Street higher

NEW YORK, New York - U.S. stocks rose again Friday after momentous gains a day earlier. Gains on Friday however ...

AP Exclusive: China Tightens up on Info After Xinjiang Leaks

The Xinjiang regional government in China's far west is deleting data, destroying documents, tightening controls on information and has held ...

MGM Healthcare strengthens the top team

Chennai (Tamil Nadu) [India] Dec 14 (ANI/BusinessWire India): MGM Healthcare, a multi-specialty quaternary care hospital in the heart of the ...

Tongaat scandal costs ex interim chief his (other) job

Former Tongaat Hulett interim chief executive officer Sydney Mtsambiwa has stepped down as chair of a Zimbabwe Stock Exchange-listed bank, ...

ANALYSIS: Zimbabwe, hobbled by a clash of egos

At the heart of Zimbabwe's economic paralysis is a personality clash.Finance Minister Mthuli Ncube and Reserve Bank of Zimbabwe Governor ...

Proteas women's skipper 'not bothered' by CSA woes

Cape Town - Proteas women's captain Dane van Niekerk says her players aren't "bothered" by Cricket South Africa's (CSA) boardroom ...

Delhi

Section

In 6 months, Modi govt has wrecked India's economy: Chidambaram

New Delhi [India], Dec 14 (ANI): Former finance minister and senior Congress leader P Chidambaram on Saturday attacked the central ...

Jofra Archer engages in a spat with Tino Best

New Delhi [India], Dec 14 (ANI): England's Jofra Archer and former West Indies player Tino Best recently engaged in a ...

Karan Johar celebrates 18 years of 'Kabhi KhushI Kabhie Gham'

New Delhi [India], Dec 14 (ANI): While the iconic scenes from multi-starrer family drama 'Kabhi Khushi Kabhie Gham' might still ...

'Bharat Bachao' rally: Traffic snarl-ups expected in parts of Delhi

New Delhi [India], Dec 14 (ANI): Ahead of Congress' 'Bharat Bachao' rally at Ramlila Maidan and protests expected at Jantar ...

CAA protests: Army issues advisory against fake news, disinformation

New Delhi [India], Dec 14 (ANI): The Indian Army has issued an advisory to people to be cautious against fake ...

Fire breaks out in West Delhi's Mundka area

New Delhi [India], Dec 14 (ANI): A fire broke out in West Delhi's Mundka area in the early hours of ...

Movie Review

Cloverfield