INSUBCONTINENT EXCLUSIVE:
Inflation quickened to highest level since June 2018.Retail inflation accelerated to 4.62 per cent in October breaching the Reserve Bank of
rising vegetable prices, government data showed
to 7.89 per cent in October 2019 as against 5.11 per cent the preceding month.Prices of most vegetables climbed last month as monsoon
downpours delayed harvests and disrupted supplies
That was despite the government's ban on onion exports.A poll of 39 economists conducted by news agency Reuters between November 4 and 9
had forecast annual consumer price inflation rose to 4.25 per cent in October.The pickup in consumer inflation leaves little room for the
central bank to further ease the monetary policy
The RBI has so far this year lowered the repo rate - or the key interest rate at which it lends short-term funds to commercial banks - by
135 points (1.35 percentage points) to 5.15 per cent.In separate data released on Monday, the country's economic slowdown deepened as the
industrial production measured by the Index of Industrial Production (IIP) contracted for second month in a row in September.Index of
industrial production contracted by 4.3 per cent in September, its fastest pace of fall in over six years, official data showed.Get Breaking
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