Inflation Eases to 4.9% in October, Providing Relief From Price Pressures
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Retail inflation eased to 4.9% in October, sliding below 5% mark and providing relief from price pressures.
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Rural inflation was higher at 5.1% while urban was at 4.6%. Core inflation moderated to 4.4%.
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Prices of some food items like cereals, pulses and spices continued to exert pressure. Fuel prices moderation also helped.
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RBI governor said interest rates will remain high. Experts expect rate cut by RBI in August 2023 depending on inflation trajectory.
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Among states, inflation above 6% in Odisha, Rajasthan and Haryana. Lowest inflation in Chhattisgarh and Delhi.