Retail inflation hits 15-month high of 4.88% in November
Consumer inflation soars to 4.88%, while Industrial output growth slows to 2.2%
The number is higher than the RBI's 4% medium-term target
Fuelled by soaring food prices, retail inflation climbed to a 15-month high of 4.88% in November.
It was at 3.58 % in October.
The figure is higher than the Reserve Bank of India's 4% medium-term target, reducing room for the central bank to change the repo rate -- the rate at which the central bank lends money to commercial banks -- in the near future.
Economists polled by Reuters had predicted consumer inflation would rise to 4.2 % in November, following unseasonably heavy rains which increased food prices.
Industrial output growth meanwhile slowed to 2.2% in October from 3.8% in September, with demand continuing to suffer from thedisruption caused by the rollout of the new Goods and Services Tax (GST).
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At its December 6 policy meeting, the RBI raised its inflation projection by 10 basis points to between 4.3% to 4.7 % for the six months ending in March.