Retail inflation at 4-mth high of 5.69% in Dec

New Delhi: Retail inflation inched up marginally to a 4-month high of 5.69 per cent in December 2023, mainly on account of higher food prices, according to official data released on Friday. The inflation based on Consumer Price Index (CPI) was at 5.55 per cent in November 2023 and 5.72 per cent in December 2022. In August 2023, inflation touched a high of 6.83 per cent.

As per the data released by the National Statistical Office (NSO), retail inflation in the food basket was at 9.53 per cent in December 2023, up from 8.7 per cent in the preceding month and 4.9 per cent in the year-ago month. The Reserve Bank of India (RBI) has been tasked by the government to ensure retail inflation remains at four per cent with a margin of two per cent on either side.

Factory output rises 2.4% in Nov

India’s industrial production grew 2.4 per cent in November, according to official data released on Friday. Factory output measured in terms of the Index of Industrial Production (IIP) had grown by 7.6 per cent in November 2022.

“India’s Index of Industrial Production grows by 2.4 per cent in November 2023,” an official statement said. The data released by the National Statistical Office (NSO) showed that the manufacturing sector’s output grew by 1.2 per cent in November 2023. The mining production rose 6.8 per cent during the month under review.