Market Highlights: CPI inflation shoots up to 14-month high in September; food prices drive hike

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Market Highlights: India’s retail inflation shot up to a 14-month high of 3.99% in the month of September, driven mainly by high food prices. While the CPI inflation level nearly touching the upper end of the RBI’s comfort zone makes it difficult for the central bank to cut key policy rates further, high food prices may also mean some good news for farmers, finally. September inflation beat most estimates which had expected a price rise of about 3.7%. CPI Inflation in the preceding month of August was at 3.28%.

Watch | What is inflation: Types and causes

In other news, Economic Sciences. Presently, Abhijit Banerjee is the Ford Foundation International Professor of Economics at MIT. He also co-founded the Abdul Latif Jameel Poverty Action Lab. Being a research affiliate of Innovations for Poverty Action, he is also a member of the Consortium on Financial Systems and Poverty. In 2014, he received the Bernhard-Harms-Prize from the Kiel Institute for the World Economy. Both the parents of Abhijit Banerjee were professors of economics and he attended South Point School and Presidency College, Calcutta, where he completed his B.S. degree in economics in 1981. Later, he completed his M.A. in economics at the Jawaharlal Nehru University, Delhi in 1983 and went to Harvard for his Ph.D. in economics in 1988.