New Delhi, Oct. 12 -- India's retail inflation climbed to 5.54% in September, driven mainly by a rise in food prices, according to government data released on Monday.

The figure remained above the Reserve Bank of India's (RBI) 2% lower tolerance limit and moved closer to the upper end of its 2%-6% inflation target band.

The Consumer Price Index (CPI)-based inflation rate stood at 4.83% in August and 4.45% in July this year.

The uptick in inflation could strengthen the case for another rate hike as price pressures linked to the US-Iran conflict and weak monsoon in the country weigh on the economy, as per a Reuters report.

If the RBI raises interest rates again, borrowers with loans linked to floating interest rates could face higher EM...