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 inflation quickened at the fastest pace in 14 months, breaching the central bank’s tolerance level and giving it a strong reason to stay cautious, even as calls grow to cut interest rates.

India's retail inflation in October accelerated to 6.21% year-on-year, breaching the central bank's target range for the first time in over a year, as food prices remained stubbornly high, government data released on Tuesday showed.

India's retail inflation rose to 6.21 percent in October. This is a significant increase from September's 5.49 percent. Food prices are the main reason for this surge. This is the first time since August that inflation has gone beyond the Reserve Bank of India's 6 percent limit.