Retail Inflation Continues To Rise In India; Exceeds RBI’s Limit For Ninth Consecutive Month
New Delhi, 12th October 2022: Despite all the efforts of the Central Government and the Central Reserve Bank, the inflation rate continues to rise. In September, the retail inflation in India rose to 7.41%, exceeding the Reserve Bank of India’s limit for the ninth consecutive month. In September, food inflation rose to 8.60% as compared to 7.62% in August.
The latest data on retail inflation is expected to put pressure on the Reserve Bank to raise interest rates. This year RBI has increased the repo rate by 190 basis points four times.
The Index of Industrial Production (IIP) declined 0.8 per cent in August. Industrial production grew by 13 per cent in the same month a year ago.
According to the data, the manufacturing sector’s output shrank 0.7 percent in August 2022.
Additionally, mining output declined by 3.9 percent. Electricity generation increased by 1.4 percent during this period.
