India's October consumer inflation likely nears top of RBI target on food costs: Reuters poll

The Economic Times · Reuters · 2026-11-06 07:51 UTC

India's consumer inflation is projected to rise in October, mainly driven by significant increases in food prices. Economists expect food inflation to reach 8.20%, reflecting ongoing market pressures. Rising global food prices and higher input costs contribute to the inflationary environment. The Reserve Bank of India anticipates inflation to average 5.2% for the current financial year. A rate hike is likely to occur in the central bank's upcoming policy meeting.

Food prices, which account for nearly 40% of India's consumer price index, have risen sharply in recent months after an uneven and deficient monsoon reduced supplies of key household staples.

Onion prices have nearly doubled since the start of the year, while even relatively less volatile protein-rich foods such as meat, milk and eggs have become more expensive.

Rising global food prices have added to domestic pressures, particularly by increasing the cost of imported edible oils and other commodities, economists said.

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