India witnessed a further moderation in inflation during October, marking the third consecutive month of easing price pressures. This development brings a sigh of relief to policymakers who are grappling with mounting concerns regarding the soaring prices of vegetables and oil.
According to data released on Monday by the statistics ministry, the consumer price index recorded a 4.87% increase compared to the corresponding period in the previous year.
This figure represents a decline from September’s inflation rate of 5.02%. However, it is slightly higher than the 4.8% estimated by economists, indicating that inflationary pressures persist, albeit at a slightly slower pace.