Aug retail inflation eases to 6.83%; IIP growth for July comes at 5.7%

The consumer price index (CPI)-based inflation for the month of August came at 6.83 per cent as against a high of 7.44 per cent in July, according to the data released by the National Statistical Office (NSO) on Tuesday.

It was at 7 per cent in August 2022.

Rural inflation was on the higher side at 7.02 per cent, compared to urban inflation at 6.59 per cent in August.

The Reserve Bank of India (RBI) has projected the CPI-based inflation at 5.4 per cent for 2023-24.

In the index of industrial production (IIP) growth for July came at 5.7 per cent vs 4.8 per cent in June.

For July 2023, the IIP stood at 142.0. For mining, manufacturing and electricity sectors for the month of July, the IIP came at 111.9, 141.2 and 204.0 respectively.

Factory output measured in terms of the Index of Industrial Production (IIP) grew by 2.2 per cent in July 2022.

The data released by the National Statistical Office (NSO) showed that the manufacturing sector’s output increased by 4.6 per cent in July 2023.