India inflation likely 4.8% in August above RBI 4% target

Business Sep 09, 2026

India's inflation is expected to have jumped to 4.8% in August 2026, the highest in 20 months, mainly because food and fuel prices are up.

This marks the third straight month inflation stayed above the Reserve Bank of India (RBI)'s 4% medium-term target.

Official numbers drop on September 14, so all eyes are on that.

Sugar and oil push Indian inflation

Unpredictable monsoons made essentials like sugar and cereals pricier, with sugar alone pushing inflation higher despite an export ban.

Global oil prices climbing toward $100 a barrel also meant costlier cooking gas.

Even though things are heating up, experts think the RBI won't hike interest rates again until next year (they last held rates last month).