National Statistics Office released data which showed that in the month of August, the consumer price-based index was high than the Reuters survey of economists. After stalling for a period of 90 days, retail inflation has risen to 7% in August.
As per the data, in August, food inflation soared as the cost of essential crops including wheat, rice, and pulses were high.
Now, restrictions have been put up by the government on wheat, sugar as well as rice so as to keep the local price from increasing. In the past few weeks, the price of crude oil saw a significant decline.
Meanwhile, the data from National Statistics Office also showed an increase in India’s Industrial production of 2.4% in July.
