Retail inflation accelerated in August on the back of high food prices, reversing a three-month downward trend and remained above the Reserve Bank of India’s (RBI) upper tolerance level of 6% for the eighth consecutive month, which may prompt the central bank to raise interest rates again. The retail inflation data showed cereal and product prices rose 9.6% in August while vegetable prices shot up 13.2% during the month.from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/9BSVjOU
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