New Delhi Aug 16: Indian economy witnessed growth in demand for consumer goods leading to country’s retail inflation cooling to a record low in July.
Also, 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.
