Inflation in the month of August was revised higher to 3.28% from 3.21%.Retail inflation measured by Consumer Price Index rose to 3.99 per cent in September, its highest level since July 2018, but remained below the Reserve Bank of India's target range of 4 per cent for the fourteenth month in a row.
Inflation in the month of August was revised higher to 3.28 per cent from 3.21 per cent.Analysts polled by Reuters had forecast a retail inflation rate of 3.70 per cent for September.The inflation picked up in September on the back of higher consumer inflation in vegetables and meat and fish categories which registered inflation growth 9.30 per cent and 9.99 per cent each respectively.With today's inflation numbers staying below the Reserve Bank of India's target range for fourteenth month in a row leaves room for the central bank to further ease the monetary policy and lower the repo rate again at its December Monetary Policy Committee meet.Repo rate is the rate at which the central bank lends short-term funds to banks.Separate data in the morning showed that inflation measured by Wholesale Price Index (WPI)stood at 0.33 per cent in Septemberwholesale inflation had stood at 1.08 per cent in August, and 5.22 per cent in September 2018, the data showed.Get Breaking news, live coverage, and Latest News from India and around the world on TheIndianSubcontinent.com.
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