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  4. India's October retail inflation eases to 4.87 per cent from September's 5.02 per cent, govt data reveals

India's October retail inflation eases to 4.87 per cent from September's 5.02 per cent, govt data reveals

The data's release is closely monitored by economists, policymakers, and the public as it provides insights into changes in the cost of living and purchasing power for citizens.

Edited By: Nitin Kumar @Niitz1 New Delhi Published : Nov 13, 2023 17:43 IST, Updated : Nov 14, 2023 0:03 IST
retail inflation
Image Source : PTI/FILE PHOTO Vegetables on sale at Azadpur Mandi, in New Delhi.

The National Statistical Office (NSO) has released the latest data, revealing a drop in India's headline retail inflation for October to 4.87%, down from 5.02% in September. This decline brings headline inflation comfortably within the Reserve Bank of India's (RBI)'s preferred range of below 6%. In contrast, the inflation rate stood at 7.56% in September 2022.

The NSO's data collection process encompasses a comprehensive survey, gathering price information from 1,114 urban markets and 1,181 villages across all states and union territories, carried out by the Field Operations Division of the NSO, Ministry of Statistics and Programme Implementation (MoSPI) through weekly visits.

Throughout October 2023, the NSO successfully collected prices from 99.8% of villages and 98.6% of urban markets. The market-wise price reporting rates were 89.0% for rural areas and 92.0% for urban regions.

The decline in retail inflation is welcomed news for the Indian economy and demonstrates the effectiveness of various fiscal and monetary policies implemented to stabilise prices and maintain economic growth.

Also read | Sensex, Nifty register losses amidst profit booking ahead of CPI inflation data

 

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