India retail inflation resurged to 7% in August, from a five-month low of 6.71% in July, led by a pick-up in food price rise faced by consumers to 7.62% from 6.73% in the previous month.(CPI) Consumer price info.
This is the 8th successive month that retail inflation has stayed above the central bank's upper tolerance threshold of 6% inflation for the economy.
Rural inflation which was at 6.8% in July, saw a sharper rise than urban inflation in August, rising to 7.15%. Urban consumers' inflation rate moved up from 6.49% in July to 6.72% in August.
India’s industrial output grew by just 2.4% in July from 12.7% in June, with output levels dropping 2.75% month-on-month as per the Index of Industrial Production (IIP).
Manufacturing sector growth dropped to just 3.2%, while electricity output grew just 2.3%, moderating sharply from double-digit growth in June.
Mining sector output contracted 3.3% during July, compared to a 7.8% rise in June on a year-on-year basis. Consumer non-durables production dropped 2% in July from a 2.96% uptick in June.