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Retail inflation rises to 14-month high of 3.99% in September

This happens to be the fourteenth straight month where retail inflation has remained below the Reserve Bank of India's medium term target of 4 per cent

twitter-logo BusinessToday.In   New Delhi     Last Updated: October 14, 2019  | 22:15 IST
Retail inflation rises to 14-month high of 3.99% in September
Consumer Price Index-based retail inflation rose to 3.99 per cent in September

Consumer Price Index-based retail inflation climbed to 3.99 per cent in September, as opposed to 3.28 per cent in the previous month, showed government data released on Monday. The consumer price index (CPI) based inflation stood at 3.70 per cent in the September 2018.

This is the highest level recorded in the last fourteen months since July 2018, driven mainly by food prices.

Overall inflation in the food basket, measured on the basis of consumer food price index (CFPI), spiked to 5.11 per cent in September 2019, in comparison to 2.99 per cent in the previous month, data from the Ministry of Statistics and Programme Implementation (MoSPI) showed.

The inflation print for vegetables surged to 15.40 per cent during the month, led by 54 per cent jump in retail prices of onion as heavy rains hit supply.

Also Read: WPI inflation eases to 0.33% in September as against 1.08% in August

This also happens to be the fourteenth straight month where inflation has remained below the Reserve Bank of India's medium term target of 4 per cent. The RBI in its fourth bi-monthly monetary policy for 2019-20 revised the CPI inflation slightly up to 3.4 per cent for Q2FY20, while projections are retained at 3.5-3.7 per cent for H2FY20 and 3.6 per cent for Q1FY21, with risks evenly balanced.

Meanwhile, wholesale inflation eased to more than three-year low of 0.33 per cent in September mainly due to falling prices of fuel and certain food articles.

Edited by Chitranjan Kumar

Also Read: IRCTC share listing: Should you sell or hold the stock after making 100% profit?

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