Retail inflation rises to 5-month high of 7.41% in SeptemberIndia's retail inflation rose to a five month high of 7.41% in September on higher food and energy costs.
India's retail inflation rose to 7.41% in September
Retail inflation rises to 5-month high of 7.41% in SeptemberIndia's retail inflation rose to a five month high of 7.41% in September on higher food and energy costs.
Food inflation, which accounts for nearly half the CPI basket, soared 8.60% in September 2022 as against 7.62% in August.
For the ninth month in a row, retail inflation has remained above the Reserve Bank of India's (RBI) tolerance level of 6 per cent.
It was at 7 per cent in August and 4.35 per cent in September 2021.
The central government has mandated RBI to ensure that retail inflation remains in the range of 2-6 per cent.
Meanwhile, industrial growth, as measured by the Index of Industrial Production (IIP), contracted 0.8% in August as compared to 2.4% in July, according to the data released by the National Statistical Office (NSO).
In September, RBI Governor Shaktikanta Das said acute imported inflation pressures felt at the beginning of this fiscal year have eased but it still remains elevated across food and energy items.