The 4.87 per cent CPI inflation in October 2023 is closer to the Reserve Bank of India’s (RBI) medium-term target of 4 per cent
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India’s retail inflation, based on the Consumer Price Index (CPI), in October 2023 eased to a five-month low of 4.87 per cent, according to the latest official data released on Monday. The 4.87 per cent CPI inflation is closer to the Reserve Bank of India’s (RBI) medium-term target of 4 per cent.
Retail inflation in rural areas stood at 5.12 per cent in October, while that in the urban regions at 4.62 per cent.
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According to the data released by the National Statistical Office (NSO), the retail inflation in the food basket, however, rose to 6.61 per cent in October as compared with the 6.56 per cent recorded in the preceding month of September 2023.
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The inflation inflation in September 2023 had stood at 5.02 per cent. With this, the CPI inflation came back to the RBI’s comfort level of below 6 per cent after a gap of two months.
The inflation based on the Consumer Price Index (CPI) had stood at 6.83 per cent in August.
