The retail inflation of India stood at 4.6% in October to mark the highest in 16 months. It was 5.0 percent in June 2018. Increased price in food items in October this year is the key contributor to inflation. This is as per the data released by the Ministry Of Statistics and Programme Implementation on the 13th. Food price has contributed massively to this situation- Food inflation, CFPI read 7.89%.
As far as inflation in the rural and urban segments is concerned, general inflation in the rural area was 4.29% and 5.11% in the urban areas in October. Food inflation in the rural areas was 6.42 percent which was 10.47% in the urban areas, mentioned the report.
The report finds that price rise in the case of vegetables has recorded a 26.10% rise in October this year over October last year. The Urban area seems to have born the brunt of 35.42% spike in vegetable price. In the rural area, the vegetable price has increased by 21.07%. Meat has experienced a rise of 9.75% in price in October, while in the case of Egg it is 6.26%.
Education has become costlier by 6.06% on October 19 compared to the corresponding month last year.
The 4.6% inflation has crossed the medium-term-target of 4 percent set by the RBI. In September 2019 the retail inflation was 3.99%.