Retail inflation up to 3.65% in August on account of rise in food prices

Jaipur, September 13, 2024.

Retail inflation inched higher to 3.65 per cent in August from the five-year low print of 3.60 per cent in July mainly on account of rise in food prices even as it continued to remain below the 4 per cent mark in the 4+/- 2 per cent band of medium-term inflation target set by the Reserve Bank of India (RBI), data released by the National Statistical Office (NSO) showed Thursday. After slipping to a 13-month low of 5.42 per cent in July, food inflation based on Combined Food Price Index (CFPI) increased to 5.66 per cent in August led by an uptick in perishables such as vegetables and fruits.

Data released separately showed the country’s factory output for July, as measured by the Index of Industrial Production (IIP), inched higher to 4.8 per cent from a five-month low of 4.7 per cent primarily led by growth in manufacturing output.