India September Consumer Price Inflation Unchanged at 3.28%

India’s retail inflation stayed unchanged in September, as a slower rise in food prices helped offset costiler fuel, government data showed Thursday.

The benchmark consumer-price index rose 3.28% from a year earlier, the same pace as in August.

Food prices climbed 1.25% from a year earlier, decelerating from a 1.52% rise in August. However, fuel prices rose 5.56%, quicker than the 4.94% increase in August.

The steady headline reading would ease concerns that inflation would surge past the Reserve Bank of India’s 4% long-term target later this year, which could reduce the room for it to lower interest rates and prop up growth.
Source: Dow Jones