Higher food prices raise India’s Sept retail price inflation

India’s sequential retail price inflation spiked in September to 7.34 per cent from 6.69 per cent in August, official data showed on Monday.

Though non-comparable, India had recorded a retail price inflation of over 3 per cent in the corresponding period of previous year.

As per the data furnished by the National Statistical Office (NSO), CPI Urban rose to 7.26 per cent in September from 6.80 per cent in August. The CPI Rural increased to 7.43 per cent last month from 6.66 per cent in August.

Besides, the data showed that India’s consumer food price index during the month under review rose to 10.68 per cent against 9.05 per cent reported for August 2020. The CFPI readings measure changes in retail prices of food products.

The data assumes significance as the Reserve Bank of India, in its last monetary policy review, maintained the key lending rates on account of elevated retail inflation.

Read More: https://www.bhaskarlive.in/higher-food-prices-raise-indias-sept-retail-price-inflation-roundup/