Retail inflation slides to 6.77% in October

Retail inflation in October eased to 6.77 per cent, compared to 7.41 per cent in September, yet remained above the RBI's tolerance band of 6 per cent for the 10th straight month, mainly due to high prices of food items.

Though food inflation in October fell to 7.01 per cent from 8.6 per cent in the previous month, prices of meat and egg, milk, vegetables, and cereals rose.

Retail inflation in October though was at a three-month low from a five-month high of 7.41 per cent in September.

Recently the RBI's monetary policy committee held a meeting on November 3 to discuss the reply to be given to the Centre on the central bank's failure to curb inflation within its tolerance limit of below 6 per cent.