India’s August Retail Inflation at 4.82% on-Year
Food and fuel costs pushed inflation above the Reserve Bank of India’s target for a third straight month, Reuters poll data showed.
- India's annual retail inflation jumped to 4.82% in August from 4.45% in July, slightly exceeding the 4.80% forecast by economists in a Reuters poll.
- Weak monsoon showers pushed food inflation to 5.95% in August, driving sharp price increases for ginger, onion, and garlic, while Brent crude futures near $108 a barrel intensified global pressures.
- Transport inflation accelerated to 4.60% in August from 4.43% previously, marking the third consecutive month inflation exceeded the Reserve Bank of India's 4% medium-term target.
- The Reserve Bank left its benchmark policy rate unchanged at 5.25% last month, though Governor Sanjay Malhotra and other officials indicated they favored a rate hike if inflation spreads.
- India remains an outlier among regional peers Indonesia and the Philippines that have raised rates, and imports nearly 85% of its oil, exposing it to Middle East supply disruptions.
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CPI Inflation in August at 4.82% YoY Led by Food Inflation
Get latest articles and stories on Business at LatestLY. The overall figures show that the price rise in rural areas runs higher than that in urban areas during the month. Business News | CPI Inflation in August at 4.82% YoY Led by Food Inflation.
India’s August retail inflation at 4.82% on-year
NEW DELHI, Sept 14 (Reuters) - India's annual retail inflation jumped to 4.82% in August from 4.45% in July, driven by higher food and fuel prices and strengthening a case for an interest rate hike in October. The August print is marginally higher th...
Retail inflation rises to 8-month high of 4.82% in August as food prices spike
The August inflation print is the final CPI reading before the RBI Monetary Policy Committee meets on October 5-7, putting renewed price pressures in focus as policymakers weigh their next move on interest rates
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