Consumer price inflation hits 7.34% in September as RBI losses hold on prices
12 Oct 2020
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Consumer price inflation based on the consumer price index rose to 7.34 per cent in September 2020 from 5.63 per cent in August and 6.69 per cent during the corresponding month of the previous year.
The continued rise in consumer price inflation can be partly attributed to supply constraints caused by the lockdown restrictions and partly to loosening of RBI’s monetary policy.
The spike in consumer price inflation, caused mainly by zooming food prices, stood higher at 10.68 per cent in September 2020 against 6.67 per cent in August and 9.05 per cent during the corresponding month a year ago.
Data released by the CSO showed that consumer price inflation has been steadily rising after hitting 3.15 per cent in July last year as food prices continued to rise.
Consumer price inflation for rural areas stood at 7.43per cent in September 2020 up from 6.66 per cent in August.
Consumer price inflation for the urban areas rose to 7.26 per cent in September 2020 from 6.80 per cent in August.
Food price inflation for rural areas stood at 10.60 per cent in September 2020, up from 9.11 per cent in August.
Food price inflation for urban areas rose to 10.94 per cent in September 2020 from 8.82per cent in August.
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