New Delhi: retail inflation The Consumer Price Index (CPI) basis declined marginally to 6.26 per cent in June, data released by the government showed on Monday. While industrial production grew by 29.3 per cent in May.
Inflation in May stood at 6.3 per cent.
Inflation in the food basket stood at 5.15 per cent in June as against 5.01 per cent in the previous month.
However, the inflation figure remained above the Reserve Bank of India’s (RBI) comfort level for the second consecutive month.
The RBI primarily factors in retail inflation while arriving at its bi-monthly monetary policy.
RBI’s Monetary Policy Committee (MPC) has been tasked by the government to control retail inflation based on CPI to 4 per cent (+,-2 per cent).
Meanwhile, a separate set of data released by the National Statistical Office (NSO) showed that manufacturing sector output grew by 34.5 per cent in the period under consideration.
IIP contracted 33.4 per cent in May 2020.
Mining production grew by 23.3 percent and electricity generation by 7.5 percent in May.
Industrial production has been hit since March last year due to the coronavirus pandemic, when it contracted by 18.7 per cent.
It declined by 57.3 per cent in April 2020 due to a decline in economic activity in the wake of the lockdown to contain the spread of coronavirus infection.
(with inputs from agencies)
Inflation in May stood at 6.3 per cent.
Inflation in the food basket stood at 5.15 per cent in June as against 5.01 per cent in the previous month.
However, the inflation figure remained above the Reserve Bank of India’s (RBI) comfort level for the second consecutive month.
The RBI primarily factors in retail inflation while arriving at its bi-monthly monetary policy.
RBI’s Monetary Policy Committee (MPC) has been tasked by the government to control retail inflation based on CPI to 4 per cent (+,-2 per cent).
Meanwhile, a separate set of data released by the National Statistical Office (NSO) showed that manufacturing sector output grew by 34.5 per cent in the period under consideration.
IIP contracted 33.4 per cent in May 2020.
Mining production grew by 23.3 percent and electricity generation by 7.5 percent in May.
Industrial production has been hit since March last year due to the coronavirus pandemic, when it contracted by 18.7 per cent.
It declined by 57.3 per cent in April 2020 due to a decline in economic activity in the wake of the lockdown to contain the spread of coronavirus infection.
(with inputs from agencies)
.