INFLATION SURGES TO 14-MONTH HIGH OF 6.21 PC IN OCTOBER, BREACHES RBI'S TOLERANCE LEVEL
New Delhi, Nov 12- Inflation in India soared to a 14-month high of 6.21 per cent in October, surpassing the Reserve Bank's upper tolerance level, due to rising food prices.
The Reserve Bank's Consumer Price Index (CPI) data for October showed that inflation breached the central bank's comfort zone, which is set at 4-4.5 percent.
According to a statement issued by the Prime Minister's Office (PMO), the government is taking several measures to curb inflation and bring down food prices.
"We are increasing efforts to control inflation, including improving agricultural production and management of supply as well managing procurement," the statement said.
The Reserve Bank of India has also taken measures to manage inflation, including reducing its monetary policy stance and increasing interest rates to curtail borrowing by consumers and businesses.
FACTORY OUTPUT EXPANDS BY 3.1% IN SEPTEMBER
New Delhi, Nov 12- India's industrial production grew for the first time in three quarters, expanding by 3.1 percent in September due to improvement in manufacturing and mining sectors.
The data was released by the Ministry of Commerce and Industry on Tuesday, showing a rise in factory output for the first time since April-March when contraction was registered.
The manufacturing sector expanded 2.5 percent in September while the mining sector increased by 4.8 percent, both above their respective previous month levels.
In August, India's industrial production contracted by 1.6 percent, with major sectors showing decline due to various factors such as global trade and supply chain disruptions.
GOVERNMENT TO OFFLOAD MORE ONIONS FROM BUFFER STOCK
New Delhi, Nov 12- India will offload more onions from its buffer stock in retail markets to stabilize prices amid temporary supply constraints.
"We are watching the situation closely and would like to ensure that onion prices come down," said a senior ministry official who wished remain nameless.