October CPI touched a 7-month high of 3.58%

October CPI touched a 7-month high of 3.58%

The Consumer Price Index (CPI) for October has went up by 3.58 per cent in comparison to same period a year ago.

The overall food prices, as gauged by the Consumer Food Price Index (CFPI), rose to 1.90 per cent during the month under review from 1.25 per cent in September 2017.

The rise, despite a high base effect, was mainly on account of increase in prices of vegetables, which rose 3.8% month on month.

As per the data released by Central Statistics Office (CSO), the October inflation for the food basket increased to 1.9%.

Moroccan Soccer Fans Clash with Brussels Police After World Cup Qualifier
Before today's matches, Morocco had 9 points while the Ivorians had 8 points; meaning the victor of the match would qualify. DR Congo were the only team still with a chance to catch Tunisia, but they fell short despite a late 3-1 win over Guinea.

The retail inflation rate was 4.20% a year ago. Moreover, the pass-through of the goods and services tax (GST) to final prices of various goods and services may not be complete. A basis point is a hundredth of a percentage point. The figure in September was 3.28%, flat since August.

However, on a year-on-year (YoY) basis, the CPI inflation last month was lower than 4.20 per cent recorded in October 2016. However, there is a risk that a surge in crude oil prices and recent softness in the Indian rupee might affect the imported inflation component.

Inflation in pulses continued to decline and settled at (-) 23.13%.

Aditi Nayar Principal Economist at ICRA said "The staggered impact on the housing index of the CPI, of the revision in HRA of central government employees, is likely to push up housing inflation further over the coming year".

Related Articles