The Central Statistics Office (CSO) and the Ministry of Statistics and Programme Implementation, in a latest report, said the Consumer Price Index (CPI) based inflation was 3.28 per cent in September, 4.2 per cent in October a year ago.
India's annual wholesale price inflation picked up in October to a six-month high, driven by faster rises in prices of food and fuel products, government data showed on Tuesday.
Meanwhile following the latest inflation data, "there was a very slight initial drop in the value of sterling as markets anticipate that inflation may not peak beyond 3.0 percent and future interest rate rises may not therefore need to be imminent", Richard Stone, chief executive at stockbrokers The Share Centre, said in a note to clients.
As per the ministry's data, retail inflation on a YoY basis edged higher due to a rise in the prices of food items like vegetables, milk-based products, cereals, meat and fish.
Pan, tobacco and intoxicants saw high inflation and settled at 6.91 per cent. Clothing and footwear (4.76), housing (6.68), and fuel and light (6.36) were costlier on sequential basis.
Inflation in Britain held steady at a five-year high of 3 percent in the year to October, just below the level that would have forced the governor of the Bank of England to write to the government explaining why prices are rising by more than a percentage point above target. The previous high was 3.89 per cent in March this year. It was (-) 22.51 per cent in September.
India's annual wholesale price inflation eased to 2.60 percent in. Crucial services such as education, healthcare, personal care, etc have seen an inflation of 3.48 per cent.
Commenting on the Reserve Bank of India's (RBI) expected reaction to the inflation numbers released before its monetary policy review meet on December 6, Jaikishan J. Parmar, Research Analyst at Angel Broking, said: "Firstly, the CPI inflation is still well within the RBI comfort zone of 4 per cent".