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 wholesale inflation rose to 2.4% in October, driven by higher food prices, surpassing forecasts and reflecting increased retail inflation.

Food price inflation, a major contributor to the wholesale price index, rose by 11.59% annually in October, compared to a 9.47% gain in September.

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.

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

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.

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 latest Consumer Price Index (CPI) report revealed that housing costs accelerated in October, posing a lingering challenge to cool price pressures.

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.