India's retail inflation surged to a 14-month high in October, driven by a jump in vegetable prices and dashing hopes of an interest rate cut by the central bank next month.

India's retail inflation surged to a 14-month high in October, driven by a sharp rise in vegetable prices, curtailing expectations of an interest rate cut by th

India's retail inflation in October accelerated to 6.21% year-on-year, breaching the central bank's target range for the first time in over a year, as food prices remained stubbornly high, government data released on Tuesday showed.

Inflation rose slightly in October in line with economists' expectations, as the consumer price index was up 2.6% from a year ago and 0.2% compared with last month.

Inflation rose two-tenths of a percentage point to 2.6% for the year ending in October, the Bureau of Labor Statistics reported Wednesday in an update to the consumer price index, the first rise in annual inflation in six months.

India's wholesale price-based inflation accelerated to a four-month high of 2.36% year on year in October due to elevated food prices, government data released on Thursday showed. Inflation for October was higher than the 2.

The annual rate of inflation moved higher last month for the first time since March, as expected — but economists say the underlying trend remains favorable for another round of interest rate cuts.

The U.S. government is set to release new inflation data on Wednesday, offering a fresh look at price increases little more than a week after the issue appeared to help former President Donald Trump win re-election.