Retail inflation rises to 3.58% in Oct

Meanwhile, core inflation eased slightly in the month to 4.55 percent in October from September's 4.61 percent. Housing inflation rose to a 40-month high of 6.7% in October, reflecting the staggered impact of the revision in the housing rent allowances (HRA) for central government employees under the 7th Pay Commission.

Food inflation moved up to 1.9 per cent in October from 1.25 per cent in September.

"Today's reading has reaffirmed our position that the inflation trajectory in the second half of this year could be lower than the RBI's projected path of 4.2 percent to 4.6 percent".

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Data released by Central Statistics Office (CSO) showed that CPI in urban India, at 3.81, was higher than that in rural India, at 3.36%.

Separately, annual industrial output grew a lower-than-expected 3.8 percent in September, compared with the forecast of 4.2 percent by economists in a Reuters poll, data released on Friday showed. On a sequential basis, core inflation slowed to 0.47 percent from 0.68 percent in the prior month. Housing inflation also rose to 6.68 in October against 6.10 per cent in September. Inflation in pulses continued to decline and settled at (-) 23.13 per cent.

All eyes will be on the current fiscal's sixth bi-monthly meeting of the Monetary Policy Committee, headed by RBI Governor Urjit Patel, on December 5-6. June was the first month the inflation fell outside the band since inflation targeting was first adopted by India.

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