News Brief
India's Retail Inflation Surges To Four-Month High At 5.69 Per Cent In December; Factory Output Slumps In November
Vegetable inflation spiked to 27.64 per cent
Inflation in India rose to a four-month high of 5.69 per cent in December, propelled by increased prices of essential items such as pulses, spices, fruits, and vegetables, according to data released by the National Statistical Office (NSO) on Friday (12 January).
Simultaneously, separate NSO data revealed that the Index of Industrial Production (IIP) marked an eight-month low of 2.4 per cent in November, reflecting a slowdown in manufacturing, mining, and capital goods output.
This marks the second consecutive month of escalating headline retail inflation, with the Consumer Price Index (CPI) breaching the 4 per cent mark for four calendar years and a quarter, reported Indian Express.
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It's important to note that the Reserve Bank of India's (RBI) medium-term inflation target is set at 4 per cent with a 2 per cent band on either side.
The annual rate of food inflation also surged, with the Consumer Food Price Index reaching 9.53 per cent in December, up from 8.70 per cent in November.
However, core inflation — non-food, non-fuel segment — eased further to sub-4 per cent level, the first time in the post-pandemic period, to 3.9 per cent in December from 4.1 per cent in November.
Also, vegetables' inflation spiked to 27.64 per cent, while pulses and spices registered inflation rates of 20.73 per cent and 19.69 per cent , respectively.
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