India's IIP growth at 4.3% in July, August retail inflation at 3.21%

New Delhi: India's industrial output rose 4.3 percent in July, as against 2 percent in June. The country's IIP stood at 6.5 in the same period last year, government data showed on Thursday.

In terms of industries, thirteen out of the twenty three industry groups in the manufacturing sector have shown positive growth during the month of July 2019 as compared to the corresponding month of the previous year. The cumulative growth for the period April-July 2019 over the corresponding period of the previous year stands at 3.3 percent.

The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of July 2019 stand at 100.2, 132.9 and 169.7 respectively, with the corresponding growth rates of 4.9 percent, 4.2 percent and 4.8 percent as compared to July 2018. The cumulative growth in these three sectors during April-July 2019 over the corresponding period of 2018 has been 3.4 percent, 2.8 percent and 6.6 percent respectively.

Meanwhile the country's retail inflation stood at 3.21 percent in August as against 3.69 in the same period last year mainly due to costlier food items, government data showed. The consumer price index (CPI) based retail inflation for July was 3.15 percent, data released by the Central Statistics Office (CSO) showed.

Retail inflation is a crucial data point, keenly watched by the Reserve Bank while deciding its monetary policy.