Retail inflation in September rises to 7.34% from 6.69% in August: Centre

Retail inflation at 8-month high in Sept; Aug IIP stays in negative

Retail inflation based on consumer price index (CPI) accelerated to 7.34 per cent in the month of September as against 6.69 per cent in August mainly on account of rising food prices, government data released on Monday showed. The dollar rose and the yield on the 10-year Treasury note fell.

Overall Food Consumer Food Price Index (CFPI) for September was at a staggering 10.68 percent from 9.05 percent in August.

With this, the possibility of a rate reduction in the near term has become remote as the current rate of retail inflation has gone much beyond the RBI's comfort level of 4 per cent (with a 2 percentage point swing in either direction).

"We expect inflation to climb higher over the remainder of the year, but to remain below its pre-pandemic trend as the demand backdrop remains generally weak, especially for services". That means it will be slower to raise rates in response to declining unemployment than in the past.

Germany's consumer prices declined in September, as initially estimated, final data from Destatis showed Tuesday.

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Meanwhile, prices for telephones and consumer electronics declined 6.1 percent and 4.4 percent, respectively.

The RBI in its Monetary Policy statement last week had said that prices of key vegetables like tomatoes, onions and potatoes should ebb by October-December with kharif arrivals, even though prices of pulses and oilseeds are likely to remain firm due to elevated import duties.

Consumer prices fell 0.4% on month and on year in EU-harmonized standards, also in line with forecasts. Compared with September 2019, shelter costs were up 2%, the smallest annual gain since February 2012.

SILVER SPRING, Md. (AP) - U.S. consumer prices rose slightly in September, led again by sharp increases in the index for used vehicles. The indexes for motor vehicle insurance, airline fares, and apparel were among those to decline over the month. Cheaper grocery-store items are a welcome relief for Americans who months ago saw larger supermarket receipts as the population hunkered down and stocked up.

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