India retail inflation rises to 5.54% in September, exceeding expectations
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India's headline retail inflation rose to 5.54% in September from 4.82% in August, surpassing economists' expectations of 5.40% in a Reuters poll and reaching a 22-month high. Food inflation climbed to 7.74% from 5.97%, driving an 11-month streak of rising inflation in the world's fastest-growing economy and increasing pressure on the central bank to further tighten monetary policy following a recent interest rate hike. The rise comes as India, which imports nearly 85% of its fuel needs, faces supply vulnerabilities and elevated oil prices amid tensions from the Iran war.
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