Mumbai, Oct 13: Retail inflation declined to a three-month low of 5.02 in September, mainly due to easing food prices, according to the government data released on Thursday
The inflation has come back to the Reserve Bank’s comfort level of below 6 per cent after a gap of two months.
The inflation based on the consumer price index (CPI) was 6.83 per cent in August and 7.41 per cent in September 2022.
The previous low was in June this year when the reading stood at 4.87 per cent.
According to the data released by the National Statistical Office (NSO), the inflation in the food basket came down to 6.56 per cent in September from 9.94 per cent in the preceding month.
The Reserve Bank mainly factors in retail inflation while arriving at its bi-monthly monetary policy.
India’s industrial output rose to a 14-month high of 10.3 per cent in August, the data released by the National Statistics Office on Thursday showed.
While the high growth is showing up in comparison to a very low base of minus 0.7 per cent in August 2022, whenĀ the country’s industrial production had actually contracted, it still reflects a welcome turnaround.
Growth was recorded across the board in manufacturing, mining and power sectors that contributedĀ to the double digit increase in the index of industrial production (IIP)