Day 37
Reports & IndicesSkim2024-11-12
MoSPI Releases October 2024 CPI Inflation Data
What Happened
The National Statistics Office (NSO) reported that India's retail inflation, measured by the Consumer Price Index (CPI), rose to 6.21 percent in October 2024. This marks a 14-month high and is primarily attributed to a sharp increase in the prices of vegetables and edible oils.
Why It Matters
The inflation rate has breached the RBI's upper tolerance limit of 6 percent, reducing the likelihood of a repo rate cut in the upcoming monetary policy review.
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