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Retail Inflation Eases To 4.35 Pc In September From 5.30 Pc In August, Industrial Production Grows 11.9 Per Cent In August: Govt Data

Business Desk, Amar Ujala, New Delhi

Published by: Mukesh Kumar Jha
Updated Tue, 12 Oct 2021 07:01 PM IST

Summary

According to government data, retail inflation has come down to 4.35 per cent in September. At the same time, the country’s industrial production grew by 11.9 percent in August.

Indicative picture (retail inflation)
– Photo : social media

According to government data released on Tuesday, retail inflation declined to 4.35 per cent in September. Inflation was 5.30 per cent in August. Actually, this has happened due to the low prices of food items.

It was 7.27 per cent in September last year
It was 7.27 per cent in September last year. At the same time, according to the data of the National Statistical Office (NSO), inflation in food articles moderated to 0.68 percent in September this year. This is much lower than the 3.11 per cent in the previous month.

The government gave the responsibility of doing this to the Reserve Bank
While considering the bi-monthly monetary policy review, the Reserve Bank of India primarily considers inflation based on the Consumer Price Index. The government has given the responsibility to the Reserve Bank to keep retail inflation at 4 per cent with a variation of 2 per cent.

CPI-based inflation forecast to be 5.3 percent
The Reserve Bank has projected CPI-based inflation at 5.3 per cent for 2021-22. It is estimated to be at 5.1 per cent in Q2 of the current fiscal, 4.5 per cent in Q3 and 5.8 per cent in Q4 with balanced risk.

11.9 percent growth in industrial production

On the other hand, the country’s industrial production (IIP) grew by 11.9 percent in August. The growth rate of production in the manufacturing sector stood at 9.7 per cent in August, 2021. According to data released by the National Statistical Office (NSO), production in the mining sector grew by 23.6 per cent and that of the power sector by 16 per cent in August.

Industrial production decreased last year
At the same time, in August last year, industrial production declined by 7.1 percent. In the first five months of the current financial year, April-August, the IIP has grown by 28.6 percent. This resulted in a 25 per cent decline in IIP in the same period of the previous financial year.

Industrial production affected due to Corona
Industrial production has been affected since March last year due to the corona virus epidemic. At that time it had fallen by 18.7 percent. Industrial production decreased by 57.3 percent in April 2020 due to the lockdown affecting industrial activities.

Expansion

According to government data released on Tuesday, retail inflation declined to 4.35 per cent in September. Inflation was 5.30 per cent in August. Actually, this has happened due to the low prices of food items.

It was 7.27 per cent in September last year

It was 7.27 per cent in September last year. At the same time, according to the data of the National Statistical Office (NSO), inflation in food articles moderated to 0.68 percent in September this year. This is much lower than the 3.11 per cent in the previous month.

The government gave the responsibility of doing this to the Reserve Bank

While considering the bi-monthly monetary policy review, the Reserve Bank of India primarily considers inflation based on the Consumer Price Index. The government has given the responsibility to the Reserve Bank to keep retail inflation at 4 per cent with a variation of 2 per cent.

CPI-based inflation forecast to be 5.3 percent

The Reserve Bank has projected CPI-based inflation at 5.3 per cent for 2021-22. It is estimated to be at 5.1 per cent in Q2 of the current fiscal, 4.5 per cent in Q3 and 5.8 per cent in Q4 with balanced risk.

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