Retail inflation has increased strongly in September. According to official data released on Monday by the National Statistical Office, retail inflation rose to 5.49 per cent in September, from 3.65 per cent in the previous month. The increase in food prices was the main reason behind the strong increase in retail inflation. However, inflation levels remain within the RBI's tolerable range of 2-6%. According to PTI news, consumer price index based inflation was 5.02 percent in September 2023.
Inflation in food basket rises to 9.24% in September
According to the news, data from the National Statistics Office shows that inflation in the food basket increased to 9.24 percent in September, which was 5.66 percent in August. It was 6.62 percent in the month of last year. Earlier, wholesale price inflation increased to 1.84 percent in September. These figures also came on Monday itself. Let us tell you, the Reserve Bank, which had kept the key short-term lending rate unchanged earlier this month, has been tasked by the government to ensure that inflation remains at 4 per cent with a margin of 2 per cent.
This was the situation in August
Rural inflation rose to 5.87 percent in August from 4.16 percent, while urban inflation rose to 5.05 percent from 3.14 percent in the previous month. Earlier in August, the inflation rate of vegetables increased by 35.99 percent as against 10.71 percent in the previous month, while the inflation of pulses and products decreased to 9.81 percent as against 13.6 percent in August.
Factory gate inflation also on the rise
Earlier, according to the data released by the Ministry of Commerce and Industry, Factory Gate Inflation based on Wholesale Price Index (WPI) also showed a slight rise in September and it increased to 1.84 percent from 1.31 percent in August. This was mainly due to a sharp rise in food prices, while other key sub-indices such as manufactured products and fuel witnessed a decline during the month.
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