India: Sharp rise in vegetable price inflation

When India's inflation reached a 15-month high last November, many experts and analysts predicted that the indicator would overshoot the Reserve Bank of India’s target by the end of Fiscal Year 2018.

The Consumer Price Index (CPI) inflation stood at 4.88% in November 2017, up from 3.58% in October, and up 3.63% from the same month in the previous year. CPI inflation, which had been rising for two consecutive months in November, was also higher than market expectations for the third time.

According to a article, the latest uptick was mostly led by a sharp rise in vegetables inflation, which shot up to a four-year high of 22.5% in November 2017 (from 7.5% in the October 2017). Vegetables contributed 90 basis point to the month-on-month rise in the headline inflation number.

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