Inflation up at 8.62 pc; RBI may hike policy rates

Oct 15, 2010 |

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New Delhi: Driven by higher prices of essential items, inflation moved up to 8.62 per cent in September, with experts saying that it will prompt RBI to hike its short-term lending and borrowing rates at next month's policy review.

However, this is the second consecutive month in which the overall inflation has stayed in the single digit. It had remained over 10 per cent for five months till July.

Inflation was 8.51 per cent in August. The July figure, meanwhile, has been revised upwards to 10.31 per cent from provisional estimate of 9.97 per cent.

Besides, food inflation numbers released by the government today showed a marginal increase of 0.13 percentage points to 16.37 per cent for the week ended October 2, on higher prices of vegetables and milk.

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