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India's August inflation falls below RBI target despite rupee slide

Reuters  |  NEW DELHI 

By Alasdair PalNEW DELHI (Reuters) - India's retail inflation fell below the Reserve Bank of India's medium-term target in August, increasing the likelihood it will keep interest rates on hold in October after raising them at its past two meetings. Consumer prices rose 3.69 percent from a year earlier, down from July's 4.17 percent, the Statistics Ministry said on Wednesday.August was the first month in 10 in which retail inflation was below the Reserve Bank of India's medium-term target of 4 percent. The median forecast of economists polled by Reuters for August was 3.86 percent, with ...

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First Published: Wed, September 12 2018. 18:10 IST
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