(MENAFN - NewsBytes)
Retail inflation cools to 11-month low of 3.69% in August
12 Sep 2018
Retail inflation cooled to an 11-month low of 3.69% in August mainly due to fall in prices of kitchen items, including fruits and vegetables, official data showed.
The inflation based on Consumer Price Index stood at 4.17% in July and 3.28% in August 2017.
CPI inflation was at 3.58% in October 2017 and remained above RBI's targeted rate of 4% since then.
RBI mandated to keep retail inflation at 4% level
The Reserve Bank of India (RBI) will be considering this set of data for formulating its next bi-monthly monetary policy on October 5. The central bank has been mandated to keep retail inflation at 4% level (with a margin of 2% on either side).