India: September CPI inflation
CPI inflation rises to 5.54% in September, near two-year high.
MoSPI data shows retail inflation at 5.54% (up from 4.83% in August). Food inflation jumped to 7.74% (from 5.97%), led by onions (108%), ginger and garlic.
Rural inflation hit 6.08%.
The print is the highest under the new 2024 base series and sits near the top of the RBI’s 2-6% band, supporting the recent 25 bp repo hike to 5.50% and calibrated tightening stance.
