13.1 C
Delhi
Saturday, February 4, 2023

Inflation increases in September, highest since April

Date:

Share post:

No respite from high-prices and inflation can be seen anywhere around. According to statistics which came out on Wednesday, the Consumer Price Index (CPI) inflation rate touched 7.41% in the month of September, which was 7% in August, and this is the highest after the month of April this year, which was 7.79%. Last year, the rate in September was 4.35%.

Prices have risen for three months straight now and for nine months now, has been above the limit of 6% set by the RBI. In the month of September, the rates of vegetables went up by 18%, those of condiments, 16.8%. A rise of 8.41% was recorded in the rates of food and beverages, and for fuel and energy, the rise was 10.39%. In the meantime, the rates of food items have increased both in urban and rural areas.

As the inflation rate is above 6%, the RBI will have to present a report to the central government, stating why the central bank was unable to keep the inflation rate between 2 and 6%. Meanwhile, the American agency, S&P Global Ratings has said that till March 2023, inflation rates will continue to remain high in India. It added that till March, the inflation rate can remain 6.8%, while during 2023-24, there is a probability that it will go down to 5%.

On the other hand, in 2024-25, retail inflation rate can further go down to 4.5%.

Sonakshi Datta
Sonakshi Datta
Journalist who wants to cover the truth which others look the other way from.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Related articles

Pakistan economic crisis: Pilgrims took helmets, juicers from Ajmer on Urs

The Pakistani pilgrims, who visited the city of Ajmer after two years during the annual festival of the...

Income tax paid by less than 1 crore Indians, 54% share of 6 states

As per the statistics of the country’s states’ share in the tax-duty, which have been found out by...

Gold in Rajasthan becomes costliest in country, rates double in 5.5 years

Amidst the anticipation of recession all across the globe, gold standard in the market of Rajasthan’s capital, Jaipur,...

Complaints against personal-care advertisements increase 3 times in 3 years

Consumers across the country are becoming increasingly aware against the misleading advertisements which breach the laws of the...