November retail inflation drops to one-and-half year low of 2.33%; October IIP growth at 11-month high of 8.1%

New Delhi: Retail inflation plunged to a 17-month low in November at 2.33 percent, mainly on account of decline in prices of kitchen essentials like vegetables, eggs and pulses.

Retail inflation, which is calculated on the consumer price index (CPI), for October this year has been revised slightly up at 3.38 percent from 3.31 percent earlier, data from the Central Statistics Office (CSO) showed on Wednesday.

In the year-ago period (November 2017), it was at 4.88 percent.

Representational image.. AFP.

Representational image.. AFP.

Retail inflation, a key input for the RBI to decide on its monetary policy, was lower than this in June 2017 when it stood at 1.46 percent, as per data by the Ministry of Statistics and Programme Implementation (MOSPI). The CSO comes under MOSPI.

The overall food inflation showed a negative print of 2.61 percent in November against an uptick of 0.86 percent in October.

Vegetable prices showed a sharp decline with inflation standing at (-)15.59 percent in November as against (-) 8.06 percent in the previous month.

For pulses and its products, the rate of deflation slowed a tad at (-) 9.22 percent from (-) 10.28 percent. Protein-rich eggs inflation came in at (-) 3.92 percent as against 2.21 percent in October.

For fuel and light category, the rate of price rise eased to 7.39 percent during the month from 8.55 percent.

However, meat and fish turned costlier at 4.99 percent from 3.02 percent. For fruits, the inflation moderated to 0.21 percent from 0.35 percent.

October IIP growth rises at 11-month high of 8.1%

India's industrial output grew at an 11-month high of 8.1 percent in October mainly on the back of mining, power and manufacturing sectors coupled with higher offtake of capital as well as consumer durable goods.

Industrial production measured in terms of Index of Industrial Production (IIP) grew 1.8 percent in October last year, as per official data released by the Central Statistics Office (CSO) Wednesday.

The previous high IIP growth rate was recorded in November last year at 8.5 percent. The growth for September remained unchanged at 4.5 percent compared to provisional data released last month.

During the April-October period, industrial output grew 5.6 percent as compared to 2.5 percent in the same period of the previous fiscal.

The manufacturing sector, which constitutes 77.63 percent of the index, recorded 7.9 percent growth in October as against 2 percent year ago. Mining sector posted 7 percent growth during the month as against a contraction of 0.2 percent in October 2017.

The power sector output also grew by 10.8 percent in the month compared to 3.2 percent a year ago.

The capital goods sector saw a 16.8 percent output growth in the month, up from 3.5 percent a year ago. Consumer durables expanded at 17.6 percent as compared to a contraction of 9 percent a year earlier.

In terms of industries, 21 out of 23 industry groups in the manufacturing sector have shown positive growth during October 2018.

As per use-based classification, the growth rates in October 2018 over October 2017 are 6.0 percent in primary goods, 1.8 percent in intermediate goods and 8.7 percent in infrastructure/construction goods. The consumer non-durables have recorded growth a 7.9 percent growth.

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Updated Date: Dec 12, 2018 19:21:25 IST

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