Perspective: Tackling Inflation | 13 September, 2022

Sansad TV
In this episode of the Perspective Prog. Based on ‘Tackling Inflation’. In a double whammy of sorts for the Indian economy, retail inflation accelerated to 7% in August, while factory output plunged to a four-month low of 2.4%. Official data released on Monday showed CPI inflation climbed to 7% from 6.71% in July and 5.3 % in August 2021, official data released on Monday showed. The inflation rate picked up on the back of a rise in food prices, especially of fruits, vegetables, spices, cereals, wheat, milk and prepared meals, with a higher pace recorded for rural areas than urban areas. In rural areas, inflation stood at 7.15 per cent in August, higher than the inflation in urban areas at 6.72 per cent, with food inflation at 7.6 per cent and 7.55 per cent, respectively. The Index of Industrial Production (IIP) also moderated to a four-month low of 2.4 per cent in July as against a growth of 11.5 per cent a year ago, with tepid growth in manufacturing, mining and electricity. The industrial output contracted from the previous month by 2.75 per cent. What do these inflationary pressures mean for the Indian economy? The challenge before the RBI now to tame prices? Will it impact recovery?

1. R. Gopalan, Former Secretary, Financial Services, Ministry of Finance, GoI
2. Dipankar Sengupta, Professor of Economics, University of Jammu
3. Subhomoy Bhattacharjee, Consulting Editor, Business Standard

Anchor: Teena Jha
Producer: Sagheer Ahmad
Guest Coordinator: Anshuman, Vishwa Pratap Singh

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