India's annual retail inflation accelerated to a five-month high of 7.41% in September from 7% in the previous month, data released on Wednesday showed. Food inflation, which accounts for nearly 40% of the CPI basket, rose 8.60% in September, compared to 7.62% in August. RBI in the last three meetings has raised rates by 50 basis points each. However, retail inflation has stayed above the RBI's target for three quarters.
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