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Despite easing marginally, headline inflation continued to stay well over the 9 per cent mark for the tenth straight month in September, reinforcing expectations of another rate hike.
The annual Wholesale Price Index rose 9.72 per cent in the latest reported month, slightly lower than the 9.78 per cent increase clocked in August, the Commerce Ministry said in New Delhi today.
On an annual basis, both the food articles and the manufactured goods inflation have fallen slightly. Cereals, fruits and onions were among the food items trending lower. Fuel group inflation rose to 14.09 per cent from 12.84 per cent in August.
The RBI has raised interest rates 12 times in the last 18 months to contain inflation. Analysts expect the central bank to raise key rates again in its monetary policy announcement later this month.
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