Double blow to economy: IIP plunges to over 4-year low; inflation accelerates
Dragged by poor manufacturing output, industrial production plunged to an over four-year low, contracting 3.2 percent in November, while retail inflation inched up in December, a set of data which RBI will consider in its monetary policy review next month.
The Index of Industrial Production (IPP) had expanded by 5.2 percent in November, 2014.
This is the worst performance since October 2011 when IIP had contracted by 4.7 percent. The IIP data was released by by the Central Statistics Office (CSO) this evening.
The retail inflation measured on Consumer Price Index (CPI) increased marginally to 5.61 percent in December, mainly on costlier vegetables and cereals. The retail inflation is on the rise for five consecutive months.
The CPI food inflation too rose to 6.40 percent during the month, another government data showed.
Vegetables prices grew 4.63 percent while prices of pulses jumped 45.92 percent.
The IIP data revealed there was sharp decline in the manufacturing sector and as well as in capital goods.
For more visit: Zee News
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