Retail inflation hits 17-month high of 5.69% in Jan, industrial output shrinks 1.3% in Dec

By: |
New Delhi | Updated: February 12, 2016 6:19 PM

Retail inflation scaled a 17-month peak of 5.69% in January, as food inflation rose to 6.85% last month, compared with 6.40% in December, showed the official data released on Friday.

Retail inflationRetail inflation in January rises marginally to 5.69 per cent from 5.61 per cent in December.

Retail inflation scaled a 17-month peak of 5.69% in January, as food inflation rose to 6.85% last month, compared with 6.40% in December, showed the official data released on Friday. Separately, official data showed industrial output shrank for a second straight month, contracting 1.3% in December against a fall of 3.2% in the previous month when the index of industrial production (IIP) had dropped for the first time since October 2014.

Retail inflation had risen 5.61% in December.

In the IIP, manufacturing hit -2.4% in December, compared with -4.4% in the previous month. Mining rose 2.9% in December, against 2.3% in the previous month, while electricity production rose 3.2%, compared with 0.7% in Novemver, the data showed. Importantly, the output of capital goods, a gauge for fixed corporate investment, contracted 19.7% in December, having already shrunk 24.4% in November. Consumer goods production rose only 2.8% in December, aided by a 16.5% expansion in durables output, which was, however, helped by a favourable base. Still, the index of industrial production (IIP) grew 3.1% in the April-December period, compared with 2.6% a year earlier, thanks to a better expansion of the IIP earlier this fiscal.

Do you know What is Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India, Expenditure Budget, Customs Duty? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Indian industry will welcome resumption of India-EU FTA talks: CII
2How India is leading by example with its faceless E-assessment system for income tax
3Forex reserves surge by $3.91 billion to $588.02 billion