In October, food inflation was in double digits at 10.87 percent while retail inflation was at a 14-month high. 

On the one hand, there is disappointment in the Indian stock market in Wednesday's trading session after the retail inflation rate (Consumer Price Index) crossed 6 percent in October 2024, on the other hand, due to this, the expectations of cheap EMIs also got a big blow. Is. The retail inflation rate has been much above the upper limit of the RBI's tolerance band at 6.21 percent. In such a situation, the possibility of reduction in repo rate in the Monetary Policy Committee meeting of RBI (RBI MPC Meeting) to be held in December 2024 is over. SBI Research has said in its report that after the sharp rise in inflation rate, there is very little possibility of RBI cutting policy rates even in February 2025. RBI Governor Shaktikanta Das has indicated several times in the past that the central bank will consider reducing interest rates only after the inflation rate remains stable at 4 percent. Food inflation rate remains a matter of concern for RBI. Food inflation in October was in double digits at 10.87 percent while retail inflation was at a 14-month high. According to Vivek Rathi, National Director Research, Knight Frank India, the continued weakness of the rupee against the dollar along with ongoing geopolitical fluctuations may increase pressure on inflation, especially on imported inflation. He said, due to domestic and imported inflation, there is very little chance that RBI will make any change in policy rates in a hurry.