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Retail inflation, measured by consumer price index (CPI) slowed to 5.02 per cent as against 6.83 per cent in August, showed data released by the National Statistical Office on Thursday.
The inflation has come back to the Reserve Bank of India (RBI)’s comfort level of below 6 per cent after a gap of two months.
The food price inflation for September stood at 6.56 per cent as compared to 9.94 per cent in August. The rural and urban inflation stood at 5.33 per cent and 4.65 per cent, respectively.
Inflation rate for vegetables declined significantly to 3.39 per cent in September from 26.14 per cent in August. Cereal inflation stood at 10.95 per cent in the month of September. The fuel and light segment deflated (-)0.11 per cent in September.
The central bank had anticipated inflation to moderate from September onwards. The RBI’s Monetary Policy Committee maintained its inflation forecast for the fiscal year at 5.4%, with projections of 6.4%, 5.6%, and 5.2% for Q2, Q3, and Q4, respectively. The committee decided to maintain the repo rate at 6.5% for the fourth consecutive time.
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