Market slows down, inflation hits Diwali! Inflation rate reaches 7.61 percent

New Delhi : In the last 7 months due to Corona, the condition of the market has gone down. But in Diwali, people are facing inflation. Retail inflation rose to a six-and-a-half-year high of 7.61 percent in October due to rising prices of eggs and vegetables. According to the latest data, retail inflation stood at 7.27 percent in September 2020, a month earlier. It was 4.62 percent in October 2019, a year earlier.

– Retail inflation has been above seven percent for the second consecutive month. Earlier, retail inflation stood at 8.33 percent in May 2014.

The rise in inflation was mainly due to an increase in food prices. According to the data, the growth of Consumer Food Price Index (CFPI) rose from 10.68 percent in September to 11.07 percent in October. Explain that it was 4.62 percent in October 2019. In October 2020, the prices of vegetables increased by 22.51 percent on an annual basis.

Inflation in meat and fish increased by 18.70 percent during October. Similarly, eggs became 22.81 percent costlier during this period.

Inflation in the milk and milk products category has come down to 5.20 percent from 5.64 percent a month ago. Experts say that due to Covid-19, inflation has increased in some areas and they are not expected to decrease in the next few months.

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