India Inflation Likely Picked up in October, Poll Shows

Dow Jones11-12

0329 GMT - India's consumer inflation likely accelerated to 6.0% on year in October from 5.5% in September, according to the median estimate of ten economists polled by The Wall Street Journal. That would be the highest reading this year and since the government revamped its consumer-price index data series in January. Inflation likely accelerated in October due partly to higher food prices and unfavorable base effects, Barclays Research says in a note. Non-food components may find relief from further moderation in precious metal prices, DBS economists say. Given the elevated inflation, the Indian central bank is likely to raise its policy rate again in December, DBS says. The inflation data is scheduled to be released Thursday.

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