Even though the retail inflation rate fell to a five-month low of 4.35 per cent in September, there was concern on the part of reputed agencies, from the International Monetary Fund (IMF) to Nomura, and companies over inflationary pressure. The wholesale price inflation (WPI) rate came down in September to the level seen in April, but remained elevated at 10.7 per cent.

       The high rate was partly due to a low base effect of 1.3 per cent in September 2020. The retail food inflation rate fell to just 0.68 per cent in September from 3.28 per cent the previous month. Within that, ...