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Sep 18, 2012, 01.38 PM IST
India's annual consumer price inflation picked up in August to 10.03% driven by a rise in food prices, government data showed on Tuesday.
India's retail inflation is the highest among the BRICS group of emerging economies - Brazil, Russia, China, and South Africa - and is way above what the Reserve Bank of India (RBI) calls its comfort level. RBI left interest rates unchanged on Monday despite big-ticket reforms by the government last week, and said its primary focus remained fighting stubbornly high inflation. Food prices for consumers accelerated to 12.03% in August from 11.53% in July. The revised number of CPI reading for July remained at 9.86%. Inflation as measured by India's benchmark wholesale price index rose a higher-than-expected 7.55% in August from a year earlier, mainly driven by higher food prices due to deficient monsoon, data on September 14 showed.
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