New Delhi, Sep 13: Consumer Price Index (CPI) inflation rate stood at 3.21 per cent in August compared to 3.15 per cent in July 2019, according to government data on Thursday.
However, despite the increase, the inflation rate is still below the RBI’s target of 4 per cent. The rise in prices was mainly driven by the price rise in food items. Food inflation (CFPI) surged to 2.99 per cent in August from 2.36 per cent in July. Inflation rate of Food and beverages stood at 2.96 per cent up from 2.36 per cent in the previous month, Pan, tobacco and intoxicants at 5 per cent, clothing and footwear at 1.23 per cent and housing at 4.84 per cent.
According to official data, industrial production growth slipped to 4.3 per cent in July, mainly on account of the poor show by the manufacturing sector. Factory output, as measured in terms of Index of Industrial Production, had expanded 6.5 per cent in July 2018. UNI