NEW DELHI, Oct 14 Reuters India39;s wholesale price index based inflation rose 1.84 in September on the back of higher food prices.
The September print was lower than the 1.92 increase projected by economists in a Reuters poll and up from 1.31 in August, according to government data released on Monday.
Food prices rose 9.5 yearonyear in September, compared to a 3.26 rise in August. Vegetable prices rose 48.7, compared to a drop of 10 in August. Cereal prices rose 8.1 over last year from an 8.4 increase a month ago.
Prices of manufactured products rose 1 against a 1.2 rise in the previous month.
Fuel and power prices dropped 4 from a 0.7 drop in August.
Last week, the Reserve Bank of India RBI left key interest rates unchanged but tweaked its stance to neutral, opening the door for rate cuts amid early signs of a growth slowdown in the economy.
However, a widening conflict in the Middle East has pushed global oil prices hovering near 80 a barrel and that could fan inflation in India, which is the thirdlargest oil importer and consumer.
India will release the September retail inflation print, which is monitored by the central bank to decide its monetary policy, at 1200 GMT.
Reporting by Nikunj Ohri; Editing by Sonia Cheema
Source Reuters