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Retail inflation rises in November, October industry growth slows

Author: Team Finapolis & IANS/Tuesday, December 12, 2017/Categories: Economy

Retail inflation rises in November, October industry growth slows

Mumbai, December 12 - India’s Consumer Price Index (CPI), or retail inflation, rose in November to touch a 15-month high of 4.88% against 3.58% in the previous month, according to data from the ministry of statistics & programme implementation.  

A sharp rise in food and fuel prices pushed India's annual retail inflation in November over the RBI's median level of 4% mark.

Meanwhile, India’s factory output rose just 2.2% in October as against 4.14% in September, according to official data. April-October Index of Industrial Production (IIP)

“The general index for the month of October 2017 stands at 123, which is 2.2% 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%,” the “Quick Estimates” of 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%, whereas mining output was a mere 0.2% and the sub-index of electricity generation expanded by 3.2%.

During the day, key Indian equity indices closed on a lower note after treading cautiously throughtout the day.  The Nifty50 of the National Stock Exchange edged lower by 82.10 points or 0.80% to 10,240.15 points, while the barometer 30-scrip Sensitive Index (Sensex) of the BSE closed at 33,227.99 points, down 227.80 points, or 0.68%, from its previous close.

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