Business / Retail inflation rises again 7 percent in August

Retail inflation: The common man has bad news on the inflation front. Inflation has increased in August. India's retail inflation reached 7% in August, up from 6.71% in July. At the same time, it was at 5.3 percent in August last year. Let us tell you that retail inflation has been above the RBI's target band of 6% for eight consecutive months. However, it has dropped below 7% for the second time in five months.

As per the data, food inflation stood at 7.62% in August, up from 6.69% in July and 3.11% in August 2021 last year. Meanwhile, India's industrial output grew 2.4% in July, according to official data released on Monday. IIP grew by 11.5% in July 2021.

IIP slows down to 2.4 per cent in July

The industrial production (IIP) of the country has registered a growth of 2.4 percent during July. IIP grew by 11.5 per cent during July 2021 from a year ago. This information was obtained from the data of the Index of Industrial Production (IIP) released by the National Statistical Office (NSO) on Monday. According to the data, the manufacturing sector's production grew by 3.2 percent in July 2022. In addition, mining production declined by 3.3 percent during July, while electricity production increased by 2.3 percent. Significantly, in April, 2020, due to the Kovid-19 epidemic, industrial production was significantly affected and it fell by 57.3 percent.