India retail inflation eases to 6.77% in October from 7.41% in September

The October consumer (provisional) inflation stands at 6.77%, down from 7.41% last month, according to govt data. The provision combined consumer food price index for October stood at 7.01, down from 8.60 per cent the previous month.

The National Statistical Office, which comes under the ministry of statistics and programme implementation released the CPI data and CFPI data for rural, urban and combined.

The price data are collected from selected 1,114 urban markets and 1,181 villages covering all States/UTs through personal visits by field staff of Field Operations Division of NSO, MoSPI on a weekly roster, the government said in a statement.

During the month of October 2022, NSO collected prices from 99.8% villages and 98.2% urban Markets while the Market-wise prices reported therein were 89.5% for rural and 91.8% for urban.

Earlier in the day, the wholesale price index-based inflation declined to a 19-month low of 8.39 per cent in October on easing prices of essential items, PTI reported.

The WPI inflation cooled to single digit after a gap of one-and-a-half years, giving some comfort to the RBI which has been struggling to rein in price rise.