India's retail inflation rate rises to 4.88 pc in November

INDORE, India - Dec. 13, 2017 - PRLog -- India's retail inflation rate has spiked to fifteen-month high at 4.88% in November, mainly on account of increase in foods and oil prices.
Vegetable prices rose 22.48% year-on-year, a vertical rise since the double-digit inflation episode in early 2013. Looking at the prices of vegetables had fallen 10 pc in November last year, there is a statistical base effect here.
Food inflation became double folded to 4.41% in November from 2.26% in October and the lift up in price rise was affected in almost all segments barring pulses, prices of which continued to fall. Vegetables may well be the chief factor but the quickening of inflation is not controlled by the food segment alone.
Combined food price inflation carried on to clock a rise, with prices jumping 1.58% in November from a 1.90% rise in October, as compared with 2.11% in the same period last year, whereas Consumer vegetable inflation came in at 6.89% in November, while prices of pulses carried on to dip -23 percent.
Fuel and light inflation, which has seen an uptick in July 2017, grew 2.04% in November, in comparison with 6.36% in October, while Housing inflation grew near to 7.36% in November from 6.68% in October.
The most worrying signal is, however, the rise in core inflation, which the RBI tracks closely. Core inflation, barring food and fuel, rose to 4.83 percent and this puts it decisively above the RBI's medium-term target of 4 percent.
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