{
  "id": 14335741,
  "title": "As inflation inches upwards, can rate hike be far behind?",
  "url": "https://urgent.news/2026/10/14/as-inflation-inches-upwards-can-rate-hike-be-far-behind",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-14T00:35:24.000Z",
  "source": {
    "name": "The Indian Express",
    "slug": "the-indian-express",
    "url": "https://indianexpress.com/article/opinion/editorials/india-retail-inflation-september-2026-10920532/"
  },
  "original_language": "en",
  "account": "Inflation in the country is on the rise, currently sitting at 5.54 per cent in September according to National Statistics Office data. This marks a 0.71 percentage point increase from August's 4.83 per cent. The central bank's projection for the second quarter aligns with this upward trend. The surge in food prices is largely responsible for the inflation jump. Onion, ginger, garlic and lemon prices, in particular, have been a significant driver. The FAO food price index has also risen by 5.8 per cent. Weak rainfall is expected to further impact output. The economic outlook remains uncertain. Crisil warns of mounting concerns over the rabi crop due to low soil-moisture levels and high temperatures. Early projections for October indicate that price pressures will persist. ICRA is even more pessimistic, forecasting food and beverage inflation to exceed 8 per cent in October. Global crude oil prices remain high, with the Indian crude oil basket trading at $125.7 per barrel as of October 12. Core inflation is also creeping up to 4.3 per cent, indicating the pass-through of higher costs to consumers. Restaurants and accommodation services have seen particularly elevated inflation due to increased food and cooking fuel prices. Economists at State Bank of India predict CPI to reach 6.5 per cent in the third quarter and 5.6 per cent in the fourth quarter. ICRA expects inflation to hover around 6 per cent in the third quarter. The prospect of further rate hikes by the RBI's Monetary Policy Committee next month, in the first week of December, is now a real possibility. While most analysts anticipate a 25 basis points increase, some suggest the likelihood of a more substantial 50 basis points hike. The extent of the monetary tightening will hinge on how inflation evolves going forward.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}