Highlight
- Retail inflation rises to 7 per cent in August from 6.7 per cent in July
- Industrial production up 2.4 per cent, government data shows
- Mining output decreased by 3.3 percent while electricity generation increased by 2.3 percent
inflation: Retail inflation rose to 7 per cent in August from 6.7 per cent in July, while industrial output rose to 2.4 per cent, government data showed on Monday.
Inflation based on the Consumer Price Index is above the Reserve Bank’s comfort level of 6 per cent for the eighth consecutive month.
As per the data, inflation in the food items basket was 7.62 per cent in August, up from 6.69 per cent in July and 3.11 per cent in August 2021.
India’s industrial output grew 2.4 percent in July.
IIP grew by 11.5 per cent in July 2021.
According to the Index of Industrial Production (IIP) data released by the National Statistical Office (NSO), the manufacturing sector output grew by 3.2 percent in July 2022.
Mining output decreased by 3.3 percent during the same period while electricity generation increased by 2.3 percent.
In April 2020, industrial production declined by 57.3 per cent due to a decline in economic activity in the wake of the lockdown imposed to contain the spread of the coronavirus infection.
,With inputs from PTI,