Retail inflation rises to 7% in August on costlier food items

The retail inflation inched upto 7 per cent in August from 6.7 per cent in July, while Industrial production grew to 2.4 per cent, government data showed on Monday.

The consumer price index-based inflation is above the Reserve Bank's comfort level of 6 per cent for the eighth month in a row.

According to the data, inflation in food basket was 7.62 per cent in August, up from 6.69 per cent in July and 3.11 per cent in August 2021.

India's industrial production rose 2.4 per cent in



July.

The IIP had grown 11.5 per cent in July 2021.

As per the Index of Industrial Production (IIP) data released by the National Statistical Office (NSO), the manufacturing sector's output grew 3.2 per cent in July 2022.

The mining output contracted 3.3 per cent while power generation increased 2.3 per cent during the same period.

In April 2020, industrial production had contracted 57.3 per cent due to a decline in economic activities in the wake of the lockdown imposed to curb the spread of coronavirus infections.