Retail inflation: There is bad news on the inflation front. Retail inflation in the country increased to 5.49 percent in September. It was 3.65 percent in August. India’s retail inflation rose to a nine-month high of 5.5 percent in September after remaining below 4 percent in the previous two months due to rising vegetable prices, according to government data on Monday, October 14. Inflation based on Consumer Price Index was 5.02 percent in the month of September last year.
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According to National Statistical Office (NSO) data, inflation in food items jumped to 9.24 percent in September, which was 5.66 percent in August last month and 6.62 percent in the same month a year ago. The Reserve Bank of India has the responsibility of keeping retail inflation at four percent with a variation of two percent. The central bank had not made any changes in the key policy rate repo in the monetary policy review presented last week with the aim of bringing inflation in line with the target.
Wholesale inflation increased to 1.84 percent
Here, due to increase in the prices of food items and increase in the prices of other manufacturing motor vehicles, manufacturing of trailers and semi-trailers, manufacturing of machinery and equipment etc., wholesale price index (WPI) based inflation on annual basis in September this year. But it increased from 1.31 percent in the previous month to 1.84 percent. The annual rate of inflation based on the WPI food index increased from 3.26 percent in August 2024 to 9.47 percent in September 2024. “The increase in wholesale inflation in September 2024 will mainly be driven by prices of food items, food products, other manufacturing, motor vehicles, manufacture of trailers and semi-trailers, manufacturing machinery and equipment, etc.,” the Commerce Ministry said in a release on Monday. Due to increase in.
(with agency input)
