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Indian Economy: Lower inflation, rising Industrial Production boosting confidence

India’s retail inflation cooled to a record low in July and annual growth in industrial production hit a four-month high in June bringing cheer for the economy and policymakers.  Moreover, the prospect of  cut in interest rates is brightening up.  Data showed, Industrial Output expanded at an annual rate of 3.8 percent in June, helped by a sharp rebound in demand for consumer goods while retail inflation slowed to a record low of 3.8% year-on-year in July, significantly lower than 5.4% in the previous month. Experts opined that slowing food prices and a favourable base effect have contributed in cooling inflation.

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