Business News
Retail inflation jumps to 4.88% in November; October IIP growth slows to 2.2%
New Delhi: A sharp spurt in food and fuel prices pushed India’s annual retail inflation in November over the RBI’s median level of 4 percent mark, official data showed on Tuesday.
Meanwhile, India’s factory output rose just 2.2 percent in October from 4.14 percent in September, official data showed.
According to the data from the Ministry of Statistics & Programme Implementation, October’s consumer price index (CPI) inflation rose during the month to 4.88 percent from 3.58 percent reported for October.
“The general index for the month of October 2017 stands at 123, which is 2.2 percent higher as compared to the level in the month of October 2016.
The cumulative growth for the period April-October 2017 over the corresponding period of the previous year stands at 2.5 percent,” the “Quick Estimates” of Index of Industrial Production (IIP) said.
As per the IIP data released by the Central Statistics Office (CSO), the slowdown on was mainly on account of deceleration in manufacturing and mining outputs.
On a year-on-year basis, the manufacturing sector expanded by 2.5 percent, whereas mining output was a mere 0.2 percent and the sub-index of electricity generation expanded by 3.2 percent.
