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India's Retail Inflation Likely To Rise In Nov: Poll

By Religare

An economic poll has suggested that India's retail inflation rate is likely to rise above the Reserve Bank of India's medium-term 5 per cent target in November as food prices climbed, leaving little room for more interest rate cuts.

India's Retail Inflation Likely To Rise In Nov: Poll
According to the survey of 21 economists, consumer prices rose 5.4 per cent last month, which marked an acceleration from 5.0 per cent in October.

As per reports, falling commodity prices have fueled a global disinflationary trend and pushed Indian inflation down, giving the RBI room to ease monetary policy four times this year, but rate cuts could now be less forthcoming.

Commenting on the issue, India economist at Societe Generale Kunal Kumar Kundu told the media, "At this point in time, given the inflation expectation, we really do not see any space for a RBI rate cut."

As per reports, looser policy from the RBI has helped India's economic growth outpace China's last quarter, and data due on Friday should show it entered the current quarter in good health.

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