New Delhi, Oct. 12 -- India's inflation rose to a 23-month high of 5.54% in September, remaining above the Reserve Bank of India's 4% midpoint target for a fourth consecutive month as higher food prices, elevated commodity costs and an unfavourable base effect fuelled price pressures.

The consumer price index (CPI) rose 5.54% in September, according to provisional data released by the Ministry of Statistics and Programme Implementation on Monday. This compares with the 5.6% increase forecast by 19 economists in a Mint survey.

The reading reinforces concerns about the inflation outlook after the RBI raised interest rates by 25 basis points last week and shifted its monetary policy stance to calibrated tightening.

Persistently high infla...