Perspective on IIP and CPI Data By Mr. Raghvendra Nath, Ladderup Wealth Management Private Limited
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Below is Perspective on IIP and CPI Data By Mr. Raghvendra Nath, Managing Director - Ladderup Wealth Management Private Limited
“For the month of August, the consumer price index (CPI) surged to 7% as against 6.71% in July. Though in the past three months retail inflation was on a downtrend, this month data has marginally increased majorly due to increase in food prices. Nearly half of the CPI basket is accounted by food inflation which includes daily essentials like wheat, rice and pulses which went skyrocket due to various factors like record heatwaves, erratic monsoon pattern etc. As against 6.75% in July, food inflation soared 7.62% in August 2022, according to the data released by the National Statistical Office.
In order to curb the inflation, there are high chances that Central bank might have to aggressively increase the interest rates.
Data released by the National Statistical Office showed, India’s industrial growth, measured by the Index of Industrial Production (IIP), recorded a growth of 2.4 percent in July, as against 12.3 percent in June.”
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