India retail inflation touches 16-month high of 4.62% in October. Moody's cuts India's GDP growth forecast to 5.6% for 2019-20.
Up and Grim: Retail inflation in India touched a 16-month high of 4.62% in October on the back of high vegetable prices vs 3.99% last month, as per data released by National Statistics Office.
This is the first month since August 2018 that retail inflation has breached the 4% medium-term target set by the RBI. Business Today
View India's inflation rate chart here.
Down and Grim: Moody's Investors Service on Thursday lowered its economic growth forecast for India to 5.6% in the current financial year, noting that the GDP slowdown in the country is lasting longer than previously expected.
The cut in growth forecast comes a week after Moody's changed its outlook on India's ratings to "negative" from "stable".
FYI: India's economy expanded at 5 per cent in the first quarter of financial year, which marked the slowest pace of growth in more than six years. NDTV Profit
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