According to data released by the Ministry of Statistics & Programme Implementation (MoSPI) on Wednesday, India’s retail inflation rose to a five-month high of 7.41 % in September from 7 percent in the previous month.
The data also showed that the retail inflation based on Consumer Price Index (CPI) was at 7.41 per cent in September while the figure was at 7 per cent in August and 4.35 per cent in September 2021 for the same.
RBI is now expected to submit a report to the central government giving reasons for failure to contain inflation at 4 per cent with a bias of 2 per cent on either side. “Inflation in food basket rose to 8.60 per cent in September this year from 7.62 per cent in August,” it shows.
As per the Index of Industrial Production (IIP) data released by the National Statistical Office (NSO), the manufacturing sector’s output contracted 0.7 per cent in August 2022.
The mining output contracted 3.9 per cent, while power generation increased 1.4 per cent during August.
In April 2020, industrial production had contracted 57.3 per cent due to a decline in economic activities in the wake of the lockdown imposed to curb the spread of coronavirus infections.