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Food prices push India's August retail inflation to five-month high

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Staff Writer | September 13, 2017
India’s consumer price inflation rose more than expected to a five-month high in August.
Reserve Bank of India
Asia   The Reserve Bank of India cut its main policy rate
It was fueled by strong gains in prices of food items, dampening chances of a rate cut by the central bank in a policy review next month amid weak economic growth.

India’s consumer price index (CPI) rose 3.36 percent in August from a year earlier, data released by the Ministry of Statistics on Tuesday showed.

Last month, the Reserve Bank of India (RBI) cut its main policy rate by 25 basis points to 6 percent, the lowest since 2010, while keeping its policy stance at “neutral”.


 

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