look news india
New Delhi: Retail inflation rises to 5.49 per cent in September, 2024 due to weather conditions and higher Bayes effect. Let us tell you that the retail inflation rate in August 2024 was 3.65 percent. Whereas in July, 2024 the retail inflation rate was 3.54 percent.
In September, 2024, the retail rural inflation rate was 5.87 percent and the urban retail inflation rate was 5.05 percent. According to the data released by the government, the Consumer Food Price Index (CFPI) stood at 9.24 percent year-on-year. Food inflation in rural areas was 9.08 percent while food inflation in urban areas was 9.56 percent.
According to the data of National Statistical Office (NSO), the inflation rate of food items increased to 9.24 percent in September. Which was 5.66 percent in August and 6.62 percent in September, 2023.
It is noteworthy that RBI has been entrusted with the responsibility of keeping retail inflation at four percent with a fluctuation of two percent. The Reserve Bank did not make any changes in key interest rates in its monetary policy review last week in view of inflation.
According to experts, RBI had received indications that retail inflation may increase in September, which is why it did not make any change in the interest rate in the monetary policy review meeting last week.
The prices of pulses, spices, meat, fish and sugar have declined in the month of September. The budget of housewives is getting disturbed due to increase in food prices.
Wholesale inflation also increased to 1.84 percent
According to the data released by the government, due to the increase in food items including vegetables, the wholesale price based inflation rate has increased to 1.84 percent in September. Wholesale price index (WPI) based inflation stood at 1.31 percent in August. In September last year, wholesale price based inflation was minus 0.07 percent. Food inflation in September 2024 has been 11.53 percent. Whereas in August 2024, the inflation rate of food items was 3.11 percent. The inflation rate of vegetables in September was 48.73 percent. The inflation rate of vegetables in August was minus 10.01 percent. In September, the price of potato increased by 78.13 percent and the price of onion increased by 78.82 percent.