India’s October Inflation Accelerates to Seven-Month High
- Consumer prices rise 3.58 percent versus 3.43 percent survey
- Reserve Bank of India due to review rates over Dec. 5-6
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India’s inflation quickened to a seven-month high, dimming hopes of an interest-rate cut when the central bank reviews policy early next month.
This will be the last price print for the Reserve Bank of India before its Dec. 6 decision. Minutes of the previous meeting showed cracks within the monetary policy committee are widening as members disagreed sharply over the path for growth and inflation, resulting in five of the six voting to hold the benchmark repurchase rate at 6 percent until there’s more clarity.