TAD News Desk, New Delhi: High inflation on the retail prices of Potato, Tomatoes, Onions and other vegetables have consumers under stress. It is the result of the rise in retail prices of food items that the inflation rate has touched 7.34 percent in September. Consumer price index during august was 6.69 percent and it was 3.99 percent during September 2019.
As per the report issued by the National statistics office, inflation rate on fooding objects, has been 10.68 percent in September which was 9.05 in august. It is the highest inflation rate of the market since January 2020.
Policy rate of RBI primarily monitors the inflation rate. RBI had predicted the high inflation rates in September, on their briefings of 9 august and, a slight relief is expected in retail prices in the third and fourth quarter of this financial year.
RBI governor, Shaktikant Das, told that the inflation is temporary, while announcing the repo rates. The farming scene looks promising. It is expected that crude oil rates would be in check and towards the third quarter of the present financial year, inflation rates would see decrease.
