RBI projects CPI inflation at 5.3% for 2021-22

India’s retail inflation rate, measured by the Consumer Price Index or CPI, rose mildly in October to 4.48% year-on-year from 4.35% in September due to an uptick in food prices. The inflation was 7.61% in October last year. For the fourth month in a row, CPI has been below the Reserve Bank of India’s six percent margin. The RBI has projected the CPI inflation at 5.3 percent for 2021-22.

According to MoSPI data, inflation in the food basket rose to 0.85 percent in October, compared to 0.68 percent in the preceding month.