Retail inflation hits 8-month high of 7.3% on food prices

Retail inflation accelerated to an 8-month high in September and crossed the 7%-mark as food prices hardened, dashing hopes of any interest rate cut by the RBI to bolster a faltering economy. Separate data showed industrial output contracted for the sixth month in a row in August but the pace of decline narrowed, indicating the pick-up in activity as the economy opened for business after the strict coronavirus-induced lockdown.

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