Retail

India's retail inflation 5.02% in Sep, industrial output 10.3% in Aug

15 Oct '23

2 min read

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India's retail inflation eased to a three-month low of 5.02 per cent in September due to softer vegetable prices and the impact of the LPG price cut, according to official data.
The consumer price index, however, continued to remain above 4 per cent.
The industrial output rose to a 14-month high of 10.3 per cent in August, driven mainly by a base effect.

India's retail inflation eased to a three-month low of 5.02 per cent in September due to softer vegetable prices and the impact of the LPG price cut, according to the data released by the ministry of statistics & programme implementation.

The rate is below Reserve Bank of India’s upper tolerance band of 2-6 per cent. The rate was 6.83 per cent in August and 4.87 per cent in June this year.

The consumer price index (CPI), however, continued to remain above 4 per cent, a target that the country's central bank has signalled would be key before easing rates.

The government had imposed a ban rice exports, and raised duties on onions in the wake of rising inflation.

Meanwhile, the country’s industrial output rose to a 14-month high of 10.3 per cent in August, driven mainly by a base effect along with an uptick in manufacturing, mining, capital goods and consumer durables. A year ago for the same period, the reading was at 0.7 per cent.

The manufacturing sector's output increased by 9.3 per cent in August this year.

The index of industrial production grew by 6.1 per cent between April and August this year compared to 7.7 per cent in the same period of the last fiscal.

Fibre2Fashion News Desk (DS)

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