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India October inflation tops RBI's 6% limit, strengthens case for rate hikes
NEW DELHI: India’s retail inflation surged in October to 6.09%, breaching the central bank’s upper tolerance limit for the first time under the new series, as rising food prices drove up household costs and bolstered bets of further rate hikes. Economists had expected inflation to rise to 5.93% in October, according to a Reuters poll, from 5.54% in September. It has now remained above the Reserve Bank of India’s 4% medium-term target for five consecutive months. India’s headline retail inflation last breached the RBI’s 6% limit in October 2024, when it rose to 6.2%, according to the previous C...
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