indias annual inflation softened in october but price growth remained above the central banks target according to preliminary government data published monday the consumer price index rose 677 on year in october after a 741 increase in september economists expected consumer prices to rise 66 according to a consensus provided by factset the urban consumerprice index rose 65 in october compared with the same period a year earlier while the rural reading increased 698 the data showed on september 30 the reserve bank of india raised its policy repo rate by 50 basis points to 59 to tame inflation which is above the central banks target range of 2 to 6 economists expect further hikes