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The Consumer Price Index (Combined) inflation for August 2021 printed lower at 5.30% as compared to the reading of 5.59% in the previous month      Headline WPI inflation for August 2021 printed at 11.4%, marginally higher than 11.2% recorded in July 2021, due to a surge in prices of primary articles and manufactured products.      IIP growth for July 2021 printed at 11.5% as against the reading of 13.6% in June 2021, on a year on year basis.      Real gross domestic product for Q1FY22 noted a growth of 20.1% on a year on year basis, largely due to favorable base as GDP contracted by a massive 24.4% in Q1FY21. However, GDP contracted by 16.9% on a quarter on quarter basis and by 9.2% from Q1FY20 levels.      In the third bi-monthly monetary policy for FY22, the RBI Monetary Policy Committee unanimously decided to maintain status quo on policy rates. MPC continued with the state-based forward guidance. All members, except Prof. Jayanth R. Varma, voted to continue with the accommodative stance as long as necessary to revive growth on a durable basis and continue to mitigate the impact of COVID-19 on the economy, while ensuring that inflation remains within the target going forward.     
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