India’s Sequential Retail Price Inflation Hits 7.34% in Sept: NSO
The data released on Monday, 12 October, also reveals that Industrial production declined by 8 per cent in August.
India's sequential retail price inflation has seen a spike, rising to to 7.34 percent in September, from 6.69 percent in August, reported IANS, citing National Statistical Office (NSO) data.
This, as reported by NDTV, is the highest level of inflation recorded since January, and significantly crosses RBI’s target range of 2-6 percent. According to NDTV, this also diminishes RBI’s hopes of further bringing down key lending rates.
According to PTI, the data released on Monday, 12 October, also reveals that Industrial production declined by 8 percent in August.
Further, according to IANS, the NSO data showed that India’s consumer food price index (CFPI) of the month under review shot up to 10.68 percent, while it was 9.05 percent in August 2020.
According to IANS, these reading track of changes in retail prices of food products.
The persistent high prices have hurt the recession-stricken Indian economy, said the NDTV report.
(With inputs from PTI, NDTV and IANS.)
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