A data from the Central Statistics Office showed that the consumer price inflation (CPI) grew in September 2018, but it was below four percent. The rallying crude oil prices during this fiscal compared to the previous year helped to balance out the modest rise added with the rise in food prices and a curtailing housing inflation.

The retail inflation stood at 3.77 percent in September 2018 as against 3.69 percent in August 2018. The retail inflation based on the CPI dipped to hit a 10 month low in August 2018.re

The inflation rate has remained within the RBI's target of 4 percent for September 2018.

The retail inflation rate was moderate for fruits and it showed an upward trend for milk products, cereals, meat and fish, eggs during September.

The data further revealed that the overall inflation rate in the consumer food basket rose up to 0.51 percent compared to 0.29 percent in August. The fuel and light inflation was flat at 8.47 percent during September.

Housing inflation was recorded at 7.07 percent - September 2018, down from the previous record of 7.59 percent during August 2018.