India's CPI Inflation Surges To 14-Month High Of 6.2% In October: Motilal Oswal

High October inflation and weak September IIP growth will delay rate cuts, adds the brokerage.

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Motilal Oswal Report

Headline Consumer Price Index inflation spiked to a 14-month high of 6.2% YoY in Oct-24 (versus 5.5% in Sep-24), higher than our forecast of 5.8% and the Bloomberg consensus of 5.9%.

The acceleration was broad-based. Food inflation jumped to a 48-month high of 10.8% in Oct-24 versus 9.3% in Sep-24. At the same time, core inflation rose to a 10-month high of 3.7% (versus 3.5% in Sep-24). In Apr-Oct-24, inflation stood at 4.8% versus 5.4% in Apr-Oct-23.

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Motilal Oswal ECO-CPI-IIP.pdf
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Also Read: October CPI Data: India's Retail Inflation Rises To 14-Month High At 6.21%

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