India's retail inflation hits 10-month high in August

India's retail inflation hits 10-month high in August

New Delhi: India's retail inflation rate rose to 3.21 per cent in August from 3.15 per cent in July , driven by higher food prices, showed the official data released on Thursday.

It is the highest rate recorded in the past ten months since last October which stood at 3.69 per cent.

However, inflation number still remains below the Reserve Bank's 4% medium-term target for a thirteenth consecutive month.

The rate of price rise in the food basket was 2.99 per cent in August, up from 2.36 per cent in the previous month, as per the Consumer Price Index (CPI) data released by the Ministry of Statistics & Programme Implementation.

The CPI-based inflation was 3.69 per cent in August 2018.

The RBI, which mainly factors in CPI while arriving at its bi-monthly monetary policy, has been asked by the government to keep inflation at around 4 per cent.

Meanwhile, India's industrial output rose 4.3% in July from a year earlier, government data showed.

(With inputs from PTI)

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