New Delhi: Retail inflation in the country surged to a 5-month high in September. Data released by the National Statistical Office (NSO) revealed this. Retail inflation is at .41% in September. Retail inflation is remaining above the upper tolerance limit set by the Reserve Bank of India (RBI) for ninth month in a row.
Food inflation surged 8.60% in September 2022. It was at 7.62% in August. Food inflation accounts for nearly half the Consumer price index-based inflation (CPI) basket. It surged mainly due to the rise in prices of essential crops like wheat, rice and pulses.
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Meanwhile, the wholesale price-based inflation (WPI) has declined in the country. This is for the fourth month in row that WPI based inflation is declining. As per the data released by the Union government, the WPI is at 10.70% in September.September is the 18th consecutive month of double-digit WPI inflation.
Wholesale Price Index (WPI) is a measure of the average change in the price of goods at a wholesale level or in the wholesale market. Consumer Price Index (CPI) is another price index that calculates price changes of goods and services that a consumer has to pay in the retail market. The monetary police of Reserve Bank of India is made after reviewing the CPI.
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