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Thursday, July 19, 2018

Retail inflation rises to 3.36%, industrial production growth slips to 1.2%

India's retail inflation in August jumped to a five-month high of 3.36 percent from a year ago, driven by higher food prices, government data showed on Tuesday.

By: Express Web Desk | New Delhi | Updated: September 12, 2017 6:47:27 pm
Inflation, Inflation fall, price increase, RBI, index inflation, inflation decline, CPI index, pulses price, beverages price, vegetable price, indian express news, explained, business Inflation rose to 2.36 percent in July, after falling for three straight months.

India’s retail inflation in August jumped to a five-month high of 3.36 percent from a year ago, driven by higher food prices, government data showed on Tuesday. Inflation rose to 2.36 percent in July, after falling for three straight months. The Industrial production growth also slipped to 1.2 pc in July as compared to 4.5 pc a year ago.

The August inflation number is the highest since March 2017, when it was recorded at 3.89 per cent. Overall food inflation in August also moved up, reversing the deflationary trend, to 1.52 per cent, government data showed.

Daily consumables like fruits and vegetables turned costlier during the month with inflation print coming at 5.29 per cent and 6.16 per cent, respectively as against 2.83 per cent and (-)3.57 per cent in July, according to the data released by the Central Statistics Office (CSO).

Likewise, prepared meals, snacks and sweets as a category turned dearer with the rate of price rise at 1.96 per cent from 0.43 per cent in July. Also, transport and communication means were costlier during the month with inflation rising to 3.71 per cent from 1.76 per cent in July.

However, items such as cereals and products, meat and fish, oils and fats became cheaper at inflation prints at 3.87 per cent, 2.94 per cent and 1.03 per cent, respectively.

(With PTI inputs)

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