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Business News

Dec 12, 2018
8:14PM

Nov retail inflation slumps to 17-month low on easing food prices

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Retail inflation eased to a 17-month low in November this year at 2.33 per cent, mainly due to decline in prices of kitchen essentials like vegetables. 

According to the provisional data of Ministry of Statistics and Program Implementation released today, Retail inflation based on consumer price index (CPI), for October this year has been revised to 3.38 per cent from 3.31 per cent earlier. 

For November, the retail inflation was at the lowest level recorded since June last year, when it stood at 1.46 per cent. 

November marked the fourth consecutive month in which inflation was within the Reserve Bank of India's medium-term goal of 4 per cent.

In the year-ago period in November 2017, it was at 4.88 per cent.

On the other hand, industrial output, IIP, of the country grew at an 11-month high of 8.1 per cent in October this year on the back of mining, power, manufacturing sectors and higher offtake of capital and consumer durable goods.

For September, the growth of IIP was at 4.5 per cent while in the year-ago period in October 2017, IIP grew 1.8 per cent.

The previous high IIP growth rate was recorded in November last year at 8.5 per cent. 

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