INFLATION RATE REACHES 2.58% IN SEPTEMBER
The inflation rate hit a five-month high in September at 2.58 percent, an increase of 0.58 percentage point compared to August.
This is amid increasing fuel prices in India and in the country throughout the summer. Prices of local goods and services increased at a slower speed compared to imported goods and services.
Meanwhile, inflation is a continued increase in the price level of goods and services in an economy over a period of time. The inflation rate looks at the speed at which prices of goods and services are increasing over time.
Prices of imported goods and services increased by 3.25 percent in September compared to local goods and services which increased by just 1.85 percent.
Altogether, food prices saw a rapid increase of 5.24 percent in September compared to nonfood which increased by 2.52 percent.