With spike in food, vegetable prices, retail inflation hits seven-month high

The Consumer Price Index (CPI) for October has went up by 3.58 per cent in comparison to same period a year ago.

Wholesale inflation rose to six month high of 3.59 percent in October as prices of food articles, led by onion and vegetables, witnessed a sharp rise.

Meanwhile following the latest inflation data, "there was a very slight initial drop in the value of sterling as markets anticipate that inflation may not peak beyond 3.0 percent and future interest rate rises may not therefore need to be imminent", Richard Stone, chief executive at stockbrokers The Share Centre, said in a note to clients.

The YoY CPI in urban areas ruled higher at 3.81 per cent, while in rural India it rose by 3.36 per cent. It was lower by 22.51 per cent in September.

As per the ministry's data, retail inflation on a YoY basis edged higher due to a rise in the prices of food items like vegetables, milk-based products, cereals, meat and fish. However, fruits were comparably cheaper in October on a sequential basis.

Taylor Swift to play US Bank Stadium on Sept 1
Fervent fans are asking about when the "Should've Said No" singer will be in Europe and elsewhere, like Brazil and India. It dropped on November 10 at 12 a.m., and sold more than 700,000 copies in its first day, according to Billboard .

"There is, however, a low likelihood of a rate cut by the RBI in the immediate term", said Aditi Nayar, an economist at Icra adding that inflationary expectations could remain high in the second half of the fiscal year that ends in March. The inflation for sugar and confectionery items increased and settled at 6.75 per cent. Spices saw some decline in price and settled at (-) 2.15 points.

Fall in pulses price keeps rise modest; housing, fuel up.

Kate Smith, head of pensions at Aegon, warned people are facing a "triple whammy" of squeezes in their purse: high inflation, little sign of wage growth and rising interest rates.

During the 23rd Goods and Services Tax (GST) council meeting, tax rates were lowered for 213 items.

The government data released today showed that inflation in food articles more than doubled to 4.30 percent in October.

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