Retail inflation in October rises to 4.62%, breaches RBI’s medium term target of 4%

Retail inflation increased to 4.62 percent in October, breaching the Reserve Bank's medium-term target of 4 percent for the first time in 15 months, mainly on account of higher food prices, according to government data released on Wednesday.

The inflation based on Consumer Price Index (CPI) was 3.99 percent in September and 3.38 percent in October 2018.

The inflation in the food basket spiked to 7.89 percent in October 2019 as against 5.11 percent the preceding month.