New DelhiIndia’s food inflation hit 7.74% in September, up from 5.97%.
Headline inflation reached 5.54%, nearing the top of the central bank’s 2%-6% tolerance band.
Onions rose 108% and rice 8.25% a year on, as deficient monsoon rains left paddy sowing 4% behind last year’s, the agriculture ministry said.
Potato prices fell 11.5% and tomato 8.62% from a year earlier.
The central bank raised rates last week, and Oxford Economics expects two more 25-basis-point hikes, in December and February.
How each outlet framed it
drawn from 80+ reports worldwide
- The Financial Express leans critical
- foregrounds onion (+108%) and ginger, garlic and sugar spikes as the drivers of the food inflation jump, with trade sources blaming Maharashtra kharif output
- Reuters
- frames the print as a rate-hike argument, quoting Oxford Economics forecasting two further 25bp hikes in December and February
- Bloomberg Business
Sources: The Financial Express, Reuters, Bloomberg Business