Retail inflation declines to 4.35 pc in September: Govt Data
Retail inflation declines to 4.35 pc in September: Govt Data
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According to government data released on Tuesday, October 12, retail inflation declined to 4.35 percent in September, largely due to lower food prices, The Consumer Price Index-based (CPI) inflation was at 5.30 percent in August and at 7.27 percent in September 2020.

According to the data by the National Statistical Office (NSO), the inflation in food basket eased to 0.68 percent in September 2021, considerably down from 3.11 percent in the preceding month.  The RBI, which mainly factors in CPI-based inflation while arriving at its bi-monthly monetary policy, has been tasked by the government to keep it at 4 percent, with a tolerance band of 2 percent on either side.

Last week, RBI Governor Shaktikanta Das had said that overall, the Consumer Price Index headline momentum is moderating, which combined with favourable base effects in the coming months could bring about a substantial softening in inflation in the near term.

The Central Bank has projected the Consumer Price Index-based inflation at 5.3 percent for 2021-22: 5.1 percent in second quarter, 4.5 percent in third, 5.8 percent in last quarter of the fiscal, with risks broadly balanced.

 

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