The consumer price index ( CPI)- based inflation

Solution

According to the data released by the National Statistical Office ( NSO) ,the retail inflation rate shot up to a five- month high in September, while factory output contracted after a gap of 17 months in August. The consumer price index ( CPI)- based inflation accelerated to 7. 41 percent in September from 7 percent in the previous month, driven by a 22- month high food inflation rate of 8. 6 per cent.   India’ s industrial production slipped to an 18- month low, contracting by 0. 8 per cent in August, mainly due to a decline in output of the manufacturing and mining sectors. The data showed that the previous low in industrial output growth was a contraction of 3. 2 percent in February 2021 while it grew by 2. 2 percent in July this year.