INSUBCONTINENT EXCLUSIVE:
Consumer inflation, or retail inflation, is determined by the Consumer Price Index (CPI)Consumer inflation stood at a 13-month low of 3.31
per cent in October, government data showed on Monday
This was lower than estimates of 3.67 per cent by analysts in a poll conducted by news agency Reuters, and within the Reserve Bank of
India's medium-term target
October's consumer inflation reading marked a third straight month in which retail inflation - determined by the Consumer Price Index (CPI)
decided to maintain status quo on key lending rates, while ruling out any reduction for the time being.Food deflation stood at 0.86 per cent
in October, as against inflation of 0.51 per cent in the previous month, according to the official release.Economists said the surprise dip
in food prices led to softening of consumer inflation."While the unexpected disinflation in food prices and easing in inflation for clothing
and footwear, led to the headline CPI inflation coming in well below our forecast, the sequential hardening in the core inflation driven by
(What economists say)The central bank is likely to keep key lending rates on hold in its December policy review, according to
Bank.Stock markets finished Monday's session with a loss of nearly 1 per cent, as investors turned cautious ahead of release of key
points from the previous close, amid selling in all sectors barring IT.Separate data, also released on Monday, showed growth in industrial
forecast of 24 economists in a poll by Reuters.Industrial production growth for the previous month was upwardly revised to 4.7 per cent, the
data showed.(With agency inputs)
