India Inflation Rate at 7-Month High of 3.58%

Consumer prices in India increased 3.58 percent year-on-year in October of 2017, above 3.28 percent in September and market expectations of 3.46 percent. It is the highest inflation rate in seven months, mainly driven by rising cost of food and fuel.

Prices went up faster for food and beverages (2.26 percent from 1.76 percent in September). The food index alone rose 1.9 percent, above 1.25 percent in the previous month. Inflation accelerated for vegetables (7.47 percent from 3.92 percent) while slowed slightly for fruits (5.05 percent from 5.14 percent). Prices of pulses fell more (-23.13 percent from -22.51 percent). 

Meanwhile, prices went up faster for housing (6.68 percent from 6.1 percent); fuel and light (6.36 percent from 5.56 percent) and clothing and footwear (4.76 percent from 4.63 percent).

The corresponding provisional inflation rates for rural and urban areas are 3.36 percent and 3.81 percent (3.15 percent and 3.44 percent respectively in September).

India Inflation Rate at 7-Month High of 3.58%

Joana Taborda |
11/13/2017 12:25:18 PM