India's Retail Inflation Rises To Five-Month High Of 7.41 Per Cent In September; IIP Contracts 0.8 Per Cent In August

India's retail inflation spiked to a five-month high of 7.41 per cent in September on account of rising food prices, according to the data released by National Statistical Office (NSO) on Wednesday (12 October).

Inflation had reached a high of 7.79 per cent in April before decelerating in the next months to 6.71 per cent in July. In August, the retail inflation was recorded at 7 per cent.

The Consumer Price Index (CPI) inflation has remained above the RBI's comfort level of 6 per cent for the ninth month in a row. The Reserve Bank factors in retail inflation while deciding on its monetary policy.

The food inflation, which accounts for around half the CPI basket, rose 8.60 per cent in September.

Meanwhile, India's factory output, as measured by the Index of Industrial Production (IIP), contracted 0.8 per cent in August as compared to growth of 2.4 per cent in July, according to the data released by the National Statistical Office (NSO).