Retail Inflation Data For October 2024: Due to the sharp increase in the prices of food items, the retail inflation rate has crossed 6 percent in the month of October and reached 6.21 percent. The retail inflation rate in September 2024 was 5.49 percent. In the month of October, the retail inflation rate has crossed the RBI (Reserve Bank of India) tolerance band of 6 percent. There has also been a sharp rise in food inflation rate in the month of October and it has crossed double digits and reached 10.87 percent.
Food inflation rate in double digits
The Ministry of Statistics and Program Implementation has released retail inflation figures, according to which the retail inflation rate has reached 6.21 percent in October 2024. A year ago, in October 2023, the retail inflation rate was 4.23 percent. The retail inflation rate in rural areas has been 6.68 percent and in urban areas it has been 5.62 percent. The ministry said that this sharp rise in retail inflation rate has been seen due to the sharp rise in the prices of vegetables, fruits, oils and fats. In October 2024, the food inflation rate has gone into double digits and it has been 10.87 percent which was 9.24 percent in September. The food inflation rate in rural areas has been 10.69 percent and in urban areas it has been 11.09 percent.
Expensive vegetables increased inflation
According to the retail inflation data that has been released, there has been a huge increase in the inflation rate of vegetables in October. The inflation rate of vegetables has been 42.18 percent which was 35.99 percent in September. The inflation rate of milk and its related products has been 2.97 percent. Inflation of pulses has come down to 7.43 percent which was 9.81 percent in September. The inflation rate of grains and related products has been 6.94 percent which was 6.84 percent in September. The inflation rate of sugar has come down to 2.57 percent, the inflation rate of eggs has come down to 4.87 percent. The inflation rate of meat and fish has increased to 3.17 percent.
