Industrial output drops, retail inflation up

Industrial output drops, retail inflation up

New Delhi:  Dragged by poor manufacturing output, industrial production plunged to an over four-year low, contracting 3.2 per cent in November. At the same time 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 per cent in November, 2014.

This is the worst performance since October 2011 when IIP had contracted by 4.7 per cent. The IIP data was released by by the Central Statistics Office (CSO) on Tuesday, 12^th January 2016th evening.

The retail inflation measured on Consumer Price Index (CPI) increased marginally to 5.61 per cent 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 per cent during the month, another government data showed.

Vegetables prices grew 4.63 per cent while prices of pulses jumped 45.92 per cent.