
Inflation genie still out of the bottle: RBI
Headline inflation is expected to average well above 6% in the second quarter, says RBI
Headline inflation is expected to average well above 6% in the second quarter, says RBI
The year-on-year inflation rate for vegetables surged to 37.34% in July
Index of Industrial Production (IIP) grew 1.1% in March.
Urban inflation rose to 6.1% in February from 6% in January while rural inflation declined to 6.72% in February from 6.85% in January.
The effective inflation faced by the bottom 50% of the population stood at 7.2% in the first nine months of FY23, says India Ratings and Research.
Food inflation, measured by the Consumer Food Price Index, rose to 5.94% in January.
CPI declined to 6.77% in October from 7.41% in September when Russia topped the chart of India's oil suppliers.
Retail inflation remains above the Reserve Bank of India's (RBI) upper tolerance band of 6% for the 10th consecutive month.
Headline inflation is set to ease from its September high, albeit stubbornly, on the back of easing momentum and favourable base effects, says RBI.
The manufacturing sector grew 3.2% in July, power generation rose 2.3%, while mining output contracted 3.3% during the month under review, the NSO data showed.