Retail inflation fell below the Reserve Bank of India's medium-term target in August, increasing the likelihood it will keep interest rates on hold in October after raising them at its past two meetings. Consumer prices rose 3.69 per cent from a year earlier, down from July’s 4.17 per cent, the Statistics Ministry said on Wednesday. August was the first month in 10 in which retail inflation was below the Reserve Bank of India's medium-term target of 4 per cent.
