RBI data shows broad-based rise in India food prices

High-frequency data from the Reserve Bank of India indicates a broad-based increase in food prices as of October 19, with rice, wheat, and major pulses all seeing sequential price hikes. Edible oil prices also rose, driven primarily by mustard and palm oil, while tomato prices picked up despite declines in potato costs.

The RBI bulletin notes that headline Consumer Price Index inflation reached a 23-month high of 5.5% in September, up from 4.8% in August. This rise was driven by broad increases across food, fuel, and core components, with eleven of twelve CPI divisions witnessing sequential inflation.

Inflation rates have diverged between regions, with rural areas recording 6.1% in September compared to 4.9% in urban areas. Wholesale Price Index inflation also hit a double-digit rate of 11.4% in September, reflecting elevated industrial and farm input costs.

Read the full story at The Hindu.