Retail inflation spiked to 7.41 per cent in September due to expensive food items

This is the ninth month in a row that retail inflation has remained above the Reserve Bank of India's tolerance level of 6 per cent.

FPJ Web DeskUpdated: Wednesday, October 12, 2022, 06:50 PM IST
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Retail inflation spiked to 7.41 per cent in September due to expensive food items | Representational Image/Pixabay

According to official data released on Wednesday, the retail inflation based on Consumer Price Index (CPI) was at 7.41 per cent in September. This is the ninth month in a row that retail inflation has remained above the Reserve Bank of India's tolerance level of 6 per cent.

Retail inflation was at 7 per cent in August and 4.35 per cent in September 2021. And the inflation in the food basket rose to 8.60 per cent in September from 7.62 per cent in August this year.

Looking at the inflation RBI will now have to give a report to the central government explaining the reasons for the failure to contain inflation at 4 per cent with a bias of 2 per cent on either side.

The central government had mandated RBI to ensure that retail inflation remains between the range of 2-6 per cent.

Inputs from PTI

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