40.6 C
Monday, May 20, 2024

Inflation increases in September, highest since April


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.

Related articles

21.11 pc polling in first four hours in Bihar

Patna: An estimated 21.11 percent of more than 95.11 lakh electorate exercised their franchise till 11 AM in...

China sweeps men’s 400m T54 medals at Para Athletics World Championships

Kobe, Japan: China impressed the Universiade Memorial Stadium in Kobe with a clean sweep of all three medals...

Hope people of Baramulla come out to vote: Omar Abdullah

Srinagar: National Conference Vice President Omar Abdullah on Monday expressed hope that people of Baramulla Lok Sabha constituency...

Voters queue up as polling gets underway in J&K’s Baramulla LS seat

Baramulla: Once known for boycotting the elections, several such voters in Jammu and Kashmir's Baramulla Lok Sabha constituency...