Retail inflation rises to 5% in Oct on costlier food items

NEW DELHI: Rising for the second straight month, retail inflation climbed to 5 per cent in October due to costlier pulses and other food items.
The Consumer Price Index (CPI) based inflation in September stood at 4.41 per cent. In October 2014, the retail inflation was 4.62 per cent.
Overall consumer food inflation during the month rose to 5.25 per cent in October, government data showed today.
Retail inflation in pulses and products category rose to a staggering 42.20 per cent in October.
While the price rise in the food and beverages category was at 5.34 per cent in October, inflation in cereals and products was also higher at 1.46 per cent.
Retail inflation in vegetables and fruits stood at 2.42 per cent and 1.98 per cent respectively in October.
However, among other protein rich items such as meat and fish, the rate of price rise has slowed to 5.01 per cent.
Likewise, rate of retail price rise in milk and its products was 4.79 per cent.
During the month, eggs also turned cheaper at 0.59 per cent.
As per the data from the Ministry of Statistics and Programme Implementation (MOSPI), inflation in sugar and confectionery category remained in negative zone at (-)10.47 per cent.
The price rise in spices category was higher at 9.82 per cent and for non-alcoholic beverages at 4.31 per cent.
In the rural areas, retail inflation rose to 5.54 per cent and for urban sector it was at 4.28 per cent.
The RBI takes into account retail inflation while formulating monetary policy. The central bank’s retail inflation target is 5.8 per cent by January 2016.

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