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Food inflation fell to 8.84 per cent in the week ended September 10 from 9.47 per cent in the previous week, but provided no relief to the common man as prices of key commodities continued to rule high.

 
 
Forex dealers say sustained foreign capital inflows into the Indian market and dollar weakness in overseas markets mainly provided support to the rupee.
"The RBI has taken the correct decision. In the context of rising inflation, RBI had no other option but to raise interest rates," PMEAC Chairman C Rangarajan said.
State-owned oil companies hiked petrol prices by Rs 3.14 per litre as a fall in rupee increased the cost of importing the raw material.
 
 
Sustained dollar demand from banks and importers in view of the strong dollar in overseas markets mainly affected the rupee value against the dollar.
Ahead of the festival season, the government on Thursday announced a seven per cent hike in the Dearness Allowance of its employees.
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