Retail inflation eases to 4.59% in December; IIP contracts 1.9% in Nov

Consumer Price Index (CPI)-based inflation eased to 4.59 per cent in December 2020 compared to 6.93 per cent in November, according to government data released Tuesday. Food inflation declined to 3.41 per cent in December, compared to 9.5 per cent in the previous month.

Meanwhile, the (IIP) contracted by 1.9 per cent in November as against 3.6 per cent growth in October, according to data from the Ministry of Statistics and Programme Implementation. The manufacturing sector output shrank by 1.7 per cent in November, while while power generation grew 3.5 per cent. Mining output saw a decline of 7.3 per cent.

Inflation in India, as measured by the CPI, has continuously been above the central bank’s limit of 6 per cent for the past eight months until November. The rise in prices in October had been the sharpest since May 2014 when the inflation rose to 7.61 per cent. The easing of inflation in December was led by lower prices of some food items.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Source link

Leave a Comment

Your email address will not be published. Required fields are marked *