India's retail inflation on Tuesday grew at 4.88% in November, citing an increase in foods and oil prices.
As per the data released by the government, the retail inflation, measured by Consumer Price Index (CPI) hit a seven-month high at 3.58% in October, while rising 3.63% in November last year.
Also the consumer vegetable inflation came in at 6.89% in November, while prices of pulses continued to fall -23% .
Similarly, the fuel and light inflation, which witnessed a surge in July, grew 2.04% in November, in comparison to 6.36% in October.
On the other hand, the housing inflation nearly grew 7.36% in November from 6.68% in October.
Earlier last week, the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) forecasted that retail inflation will hover around the range 4.3 to 4.7% in quarter ended December and March, higher than the previous projection of 4.2-4.6% .
The committee also said that the Reserve Bank has already firmed up and any increase in food and fuel prices may further harden these expectations.
(ANI)
