Retail inflation declined to 4.87 per cent in October
from 5.02 per cent in September, government data showed on Monday.
The Consumer Price Index-based retail inflation had
dropped to three-month low of 5.02 per cent in September.
In its October meeting, the Reserve Bank’s Monetary
Policy Committee (MPC) had projected CPI inflation at 5.4 per cent for 2023-24,
a moderation from 6.7 per cent in 2022-23.
RBI governor Shaktikanta Das had said ‘the fight
against inflation is not over yet,’ and stated that the central bank wants to
keep inflation at 4 per cent, and not between 2 to 6 per cent.
The government has tasked the RBI to ensure the CPI
inflation remains at 4 per cent with a margin of 2 per cent on either side. The
central bank mainly factors in the retail inflation while arriving at its
bi-monthly monetary policy.
Agencies
