Retail inflation eases to 6.71% in July

Aug. 12, 2022, 3:50 p.m. Reuters

Retail inflation in the country eased in July to 6.71% due to moderation in food inflation but stayed well above the Reserve Bank of India's (RBI) tolerance limit of 4-6% for the seventh consecutive month, data from the National Statistical Office showed today. Food inflation in July 2022 moderated to 6.75% as against 7.75% in June, according to the data. In the first three months of the current fiscal, retail inflation remained above 7%.

Meanwhile, India's factory output, measured by the Index of Industrial Production (IIP), came in at 12.3% for the month of June, compared with 19.6% reported in May, the government data showed. The coronavirus pandemic had weighed on Industrial production since March 2020, when it had contracted 18.7%.

The manufacturing sector's output grew 12.5% in June 2022. The mining output climbed 7.5%, and power generation increased 16.4% in June this year. The IIP had grown by 13.8% in June last year. The index rose 12.7% Apri...

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