Retail inflation spikes to 16-month high of 4.62% in October

India's Retail inflation for the month of October breached the Reserve Bank of India's (RBI) medium-term target of 4% for the first time since July 2018 due to higher food prices even though RBI had predicted that food prices "are likely to moderate as winter supplies enter the market". Inflation touched 4.62, according to the data released by the statistics office on Wednesday, compared to 3.99% in the month of September.