Retail inflation softens to 3-month low in Jan; IIP grows by 3.8%
The headline inflation had moderated to an average of 5.5 per cent during April-December 2023 from 6.7% during 2022-23
The headline inflation had moderated to an average of 5.5 per cent during April-December 2023 from 6.7% during 2022-23
With this, the mining output stood at 4.6%, whereas the manufacturing output stood at 5.3% in February. Power generation surged to 8.2% during the month under review.
Elevated temperatures in northern regions and plausibility of severe upcoming heat waves to affect agricultural output and keep inflation at elevated levels, says a report.
Retail inflation falls within the RBI’s tolerance threshold of 4% (+/-2%) for the first time in 2022.
Rural inflation increased marginally to 7.09% in June from 7.08% in May, while urban inflation saw a sharp downturn to 6.92% during the month.
The quick estimates for the index of industrial output stood at 135.1 for April 2022, compared to 126.1 seen during the corresponding month of last year.
Data released by the National Statistical Office on February 12 shows that the output of the manufacturing sector—which constitutes 77.6% of IIP—declined 1.2%.