Retail inflation in the country recorded an upward trend for the 11th consecutive month. According to data released by the government, retail inflation rose to 5.54 percent in September, up from 4.82 percent in August. This increase was primarily driven by a surge in food prices, with food inflation jumping from 5.97% to 7.74%. Inflation rose across both urban and rural areas. In response to this situation, the Reserve Bank of India (RBI) has increased benchmark interest rates and ruled out any rate cuts in the near future.
