The Index of Industrial Production (IIP) also increased 11.9 percent in August as per the official data.
Inflation in the food basket slowed down to 3.11% in August 2021 from 3.96% in July 2021, according to the data released by the NSO.
Reserve Bank governor Shaktikanta Das underlined the need for closely monitoring the price situation with a view to anchoring inflation expectations
Today's data points vindicate the RBI's decision to calibrate the policy normalisation in a gradual fashion, say experts
RBI will be evaluating two key questions - what is the outlook on economic (GDP) growth and, what is the outlook on retail inflation
GDP growth for the year (FY22) is expected to be 8.8-9% with GVA (gross value added) growth of 7.8%.
The latest SBI Ecowrap report notes that the decline in June inflation print reveals an across-the-board decline in sequential momentum
IIP had contracted by an updated 0.9% in January after rising by 1.6% in December.
