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India's Retail Inflation Surges To 15-Month High At 4.88% In November, Industrial Output Growth Slows

The housing inflation nearly grew 7.36% in November from 6.68% in October.

India's retail inflation on Tuesday grew at 4.88% in November, citing an increase in foods and oil prices.

As per the data released by the government, the retail inflation, measured by Consumer Price Index (CPI) hit a seven-month high at 3.58% in October, while rising 3.63% in November last year.

Also the consumer vegetable inflation came in at 6.89% in November, while prices of pulses continued to fall -23% .

Similarly, the fuel and light inflation, which witnessed a surge in July, grew 2.04% in November, in comparison to 6.36%  in October.

On the other hand, the housing inflation nearly grew 7.36% in November from 6.68% in October.

Earlier last week, the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) forecasted that retail inflation will hover around the range 4.3 to 4.7% in quarter ended December and March, higher than the previous projection of 4.2-4.6% .

The committee also said that the Reserve Bank has already firmed up and any increase in food and fuel prices may further harden these expectations.

(ANI)

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