India's August retail inflation rises to 3.21%

Retail inflation inches up to 3.21% in August; factory output at 4.3% in July

In terms of industries, thirteen out of the twenty three industry groups in the manufacturing sector have shown positive growth during the month of July 2019 as compared to the corresponding month of the previous year.

Meanwhile the country's retail inflation stood at 3.21 percent in August as against 3.69 in the same period previous year mainly due to costlier food items, government data showed. Factory output had grown 6.53 per cent in the year-ago period.

"Lower energy and grocery store prices led to a tepid 0.1% rise in CPI prices, but core inflation came in hot again in August".

The power generation sector grew at 4.8 per cent in July, compared to 6.6 per cent a year ago earlier.

As per use-based classification, the growth rates in July 2019 over July 2018 are 3.5 percent in primary goods, 13.9 percent in intermediate goods and 2.1 percent in infrastructure/construction goods.

Mining growth was 4.9 percent in July as compared to 3.4 percent in the same month last fiscal.

Inflation based on consumer price index (CPI) or retail inflation rose to a 10-month high of 3.21 per cent in August from 3.15 per cent in July mainly due to higher food prices, data released by government showed on Thursday.

However, retail inflation is still within the Reserve Bank's target range, thus keeping hopes of another rate cut alive. The RBI mainly factors in the retail inflation while deciding the bi-monthly monetary policy.

Overall inflation in the food basket, measured on the basis of consumer food price index (CFPI), rose to 2.99 per cent in August 2019, in comparison to 2.36 per cent in July 2019.

A retail inflation figure of 3.21% indicates that prices were that much higher this August as compared to August 2018.

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