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Food Inflation cools down to 8%
The fall in food inflation could give a sigh of relief to the Reserve Bank. The fall in food prices have also opened up windows for the RBI to peep in the monetary policy. The RBI has hiked key policy rates for 13 consecutive times.
According to the data released by the government on Thursday, the moderation in food inflation was due to fall in the prices of vegetables. The price of vegetables came down to 5.13% sharply against 17.66% reported a week ago.
Onion, potato and wheat became cheaper by 41%, 11% and 5%, respectively.
The fuel inflation went up marginally to 15.53%.
Fruits, milk, egg, meat & fish became dearer by 7.98%, 11.41% and 13.55%, respectively.
The non-food articles inflation moderated to 2.14%.
Headline inflation stood at 9.73% for the month of October, which may come down for the month of November on the back of fall in food inflation.
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