Retail inflation jumps to 4.62 per cent in Oct on higher food prices

Retail inflation surged to 4.62 per cent in October this year mainly on account of higher food prices. According to government data released today, the inflation in the food basket spiked to 7.89 per cent in October this year as against 5.11 per cent the preceding month. The inflation based on the Consumer Price Index (CPI) was 3.99 per cent in September and 3.38 per cent in October last year. The Reserve Bank mainly factors in the CPI-based inflation to arrive at its bi-monthly monetary policy....