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Food prices drive inflation higher, at 6.1% in August

RBI Governor Raghuram Rajan, scheduled to come out with his first policy review on September 20, will have to take into account the rising inflation while announcing steps to boost sagging growth.

Bankers and exporters preferred to reduce their dollar positions on expectations more foreign capital would flow into the equity market.
The dollar index traded up 0.12 per cent against six major global rivals ahead of US retail sales data before the Federal Reserve meeting next week.
Industrial production entered positive zone in July, recording a growth of 2.6 per cent after contracting for two straight months.
The inflation measured on the Consumer Price Index (CPI) has been showing signs of softening since March, expect for June when it inched up marginally.
Officials say the softening in international oil rates and appreciating rupee will translate into a cut in petrol price on September 15-16.