India’s retail inflation rate eased to 6.83 per cent in August from a 15-month high of 7.44 per cent in July 2023, mainly due to a slide in prices of food items, especially vegetables, data released by the National Statistical Office (NSO) Tuesday showed. The inflation print, however, continued to remain above the upper limit of the 4+/- 2 per cent band of Reserve Bank of India’s medium-term inflation target, making it the fourth instance of headline inflation staying higher than the upper limit of the target during this calendar year and the seventh such instance since August 2022.
Meanwhile, factory output grew to a five-month high of 5.7 per cent in July due to strong performance of manufacturing, mining and electricity sectors, separately released data by NSO showed.
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