The government has released data regarding Consumer Price Index (CPI) numbers on base 2012=100 for rural, urban and combined for the month of September 2021.
According to which, India’s retail inflation has fallen again in September to a five-month low. CPI has fallen sharply to 4.35% in September from 5.3% in August. This marks the third consecutive month within the Reserve Bank of India’s (RBI) tolerance band of 2%-6%.
Further, the Index of Industrial Production (IIP) has risen 11.9% year-on-year for the month of August as against 11.5% in July. During April-August this year, the IIP grew 28.6% against a 25% contraction in the same period last year.
As per the IIP data by the National Statistical Office (NSO), the manufacturing sector’s output surged 9.7% in August 2021. Whereas, in august 2020 it had contracted 7.1 percent. The mining output has climbed 23.6%, and power generation increased 16% in August this year.
However, the industrial production has been hit due to the coronavirus pandemic since March last year when it had contracted 18.7%. It shrank 57.3% in April 2020 due to a decline in economic activities in the wake of the lockdown imposed to curb the spread of coronavirus infections.