Happy News..! Retail inflation drops to 6.71%..!

India's retail inflation rate eased to 6.71% in July. Although it has decreased slightly, it is seen above the RBI's target. While the RBI had predicted the inflation rate to be around 4-6%, it decreased to 6.71% in July. This is a good thing as it has come down compared to the previous month. Food inflation has come down to 6.75% in July 2022. Notably, it was 7.75% last June. It is expected to decrease further in the coming months.
It has been consistently above 7% in the first three months of the current financial year. In the same month of june, the IIP data showed a growth of 12.3%. It was 19.6% in May. During the same corona period, the growth rate in the industrial sector has seen a decline from 18.7% in march 20220. The growth rate in the manufacturing sector has grown to 12.5% in june 2022. The same growth rate in the mining sector was 7.5% and the growth rate in the power sector was 16.4%.It is noteworthy that the industrial production data showed a growth of 13.8% in the last year. The same saw a rise of 12.7% in April-June 2022. It is noteworthy that this was 44.4% in the previous year. In april 2020, industrial sector production has seen a decline of 57.3%. It is noteworthy that the growth rate has seen a complete recovery during the nationwide lockdown. Inflation may come down sufficiently in 2023. Meanwhile, the interest rate may increase in the coming October. This will further help bring inflation under control.

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inflation

Sowmiya Sriram

13/08/2022 12:13 PM