Dec industrial production grows 7.1%; Jan retail inflation eases to 5.07%

Dec industrial production grows 7.1%; Jan retail inflation eases to 5.07%

 

New Delhi, Feb 12: After registering the highest growth in 17 months in November at a revised 8.8%, led by capital goods, the index of industrial production (IIP) remained robust in December 2017 at 7.1%. It was 2.4% in December 2016.
Retail inflation declined to 5.07% in January due to easing prices of vegetables, fruits and fuel components, an official data showed today. Based on Consumer price index (CPI), the inflation was at 5.21% in December — a 17-month high, and 3.17% in January last year.
The data released by the Central Statistics Office (CSO) showed that the rate of price rise for consumer foods eased to 4.7% in January, from 4.96% in December.
Inflation in the vegetable basket slowed to 26.97% as against 29.13 in December. Prices of fruits too rose at a lower pace of 6.24% last month, as against 6.63% recorded in the preceding month.
For the fuel and light segment, inflation was 7.73% last month compared to 7.90% in December.
Price data are collected from selected towns by the Field Operations Division of NSSO and from selected villages by the Department of Posts.
Industrial production grew 3.7% in April-December 2017, down from 5.1% in the corresponding period a year ago.