Retail inflation rises to 5-month high of 7.41% in Sept on costlier food items
India TodayRetail inflation rose to a five-month high of 7.41 per cent in September mainly due to costlier food items, reason enough for the Reserve Bank to continue with its rate hike cycles it has resorted to since May 2022. Official data released by National Statistical Office on Wednesday showed that the retail inflation based on Consumer Price Index was at 7.41 per cent in September as against 7 per cent in August. Nikhil Gupta, Chief Economist, MOFSL group said India's headline inflation surged to a five-month high last month versus the market consensus of 7.3 per cent and MOFSL's expectation of 7.5 per cent. Food inflation spiked to a 22-month high of 8.4 per cent in September 2022, with a sharp sequential move in vegetables, cereals and spices, Aditi Nayar, Chief Economist at rating firm ICRA said.