However, the wholesale price-based index, inflation, was way below the RBI projection of close to 5 per cent for this fiscal.

Inflation stood at 5.56 per cent a year ago. Although inflation was still below RBI’s projection for this fiscal, analysts said they do not anticipate cut in interest rates.

The wholesale price index, on which inflation data is based, rose marginally by 0.1 per cent to 215.7 points from 215.4 points during the week.

Meanwhile, inflation has been revised upwards to 3.51 per cent from provisional estimates of 3.42 per cent for week ended September 22 after revision in wholesale price index.