Increase in inflation due to rising prices of vegetables!

Mumbai : The government has entrusted the Reserve Bank with the responsibility of keeping the rate of inflation at 4 percent (with a margin of two percent). Despite all possible efforts of the Reserve Bank, there are no signs of reducing the inflation rate in the country. In the month of October, retail inflation in the country rose to 6 in 14 months. It has reached a record high of 2 percent.

Last month, the same rate was 5.5 percent. As a result, the inflation rate of food grains has increased. Many reports had already predicted that inflation would rise to around 6 percent for October.

After a year and a half of inflation hitting a record high, the repo rate is expected to remain unchanged at the December monetary policy review (MPC) meeting. The repo rate has remained at 6.5 percent since the last ten MPC meetings. If it remains unchanged this time, it will be the 11th consecutive time that the repo rate will remain at the old level.

In the same month last year, the consumer price index based inflation rate was 4.87 percent. According to NSO data, food inflation rose to 10.87 percent in October. In September, the same rate was 9.24 percent. In October last year, this rate was 6.61 percent.

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01:09 PM 13/Nov/2024