New Delhi: Retail inflation declined to a three-month low of 5.02 per cent annually in September on account of moderation in vegetables and fuel prices, and back within the Reserve Bank s comfort level.
The inflation based on Consumer Price Index (CPI) was 6.83 per cent in the preceding month and 7.41 per cent in September 2022.
The previous low was in June
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Food price spikes in India, typical at the onset of the monsoon, drove up headline inflation in June, corroborating the MPC’s view that the fight against inflation is far from over, , reserve bank of india, monetary policy, food inflation, policy rate
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Since May last year, the Reserve Bank has increased the short-term lending rate by 225 basis points to contain inflation, mostly driven by external factors, especially global supply chain disruption following the Russia-Ukraine war outbreak.