India’s retail inflation increased to 7.41% in September up from 7% in August, government data showed in August.
September’s figures were the highest in five months. The price rise indicator was 6.71% in July, 7.01% in June and 7.04% in May.
For nine months now, retail inflation has remained above the upper limit mandated by the Reserve Bank of India. The central bank aims to keep inflation in the range of 2% to 6%.
In September, the food inflation increased to 8.60% from 7.62% in August. The highest price rise was recorded in vegetables (18.05%), followed by spices (16.88%), milk (11.53%) and fruits (5.68%).
The inflation rate for fuel and light declined to 10.39% from 10.78% in August.
Meanwhile, India’s industrial growth, measured by the Index of Industrial Production, contracted to 0.8% in August, data released by the Ministry of Statistics and Programme Implementation showed. Industrial growth had shown a steep decline of 2.4% in July as against 12.3% in June. The electricity sector grew by 1.4%.
Buy an annual Scroll Membership to support independent journalism and get special benefits.
Our journalism is for everyone. But you can get special privileges by buying an annual Scroll Membership. Sign up today!