Retail inflation marginally eases to 6.26% in June; factory output grows 29.3% in May – Times of India
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NEW DELHI: Retail inflation based on consumer price index (CPI) marginally eased to 6.26 per cent in June, data released by government showed on Monday. While, the industrial production grew by 29.3 per cent in May.
The inflation number stood at 6.3 per cent for the month of May.
Inflation in food basked was 5.15 per cent in June as compared to 5.01 per cent in previous month.
However, the inflation figure remained above the Reserve Bank of India’s (RBI’s) comfort level for the second consecutive month.
The RBI mainly factors in the retail inflation while arriving at its bi-monthly monetary policy.
RBI’s monetary policy committee (MPC) has been tasked by the government to tame retail inflation based on CPI at 4 per cent (+,-2 per cent).
Meanwhile, a separate set of data released by the National Statistical Office (NSO) showed that manufacturing sector output surged 34.5 per cent in the period under consideration.
The IIP had contracted 33.4 per cent in May 2020.
Mining output climbed 23.3 per cent and power generation increased 7.5 per cent in May.
Industrial production has been hit due to the coronavirus pandemic since March last year when it had contracted 18.7 per cent.
It shrank 57.3 per cent in April 2020 due to decline in economic activities in the wake of the lockdown to curb the spread of coronavirus infections.
The inflation number stood at 6.3 per cent for the month of May.
Inflation in food basked was 5.15 per cent in June as compared to 5.01 per cent in previous month.
However, the inflation figure remained above the Reserve Bank of India’s (RBI’s) comfort level for the second consecutive month.
The RBI mainly factors in the retail inflation while arriving at its bi-monthly monetary policy.
RBI’s monetary policy committee (MPC) has been tasked by the government to tame retail inflation based on CPI at 4 per cent (+,-2 per cent).
Meanwhile, a separate set of data released by the National Statistical Office (NSO) showed that manufacturing sector output surged 34.5 per cent in the period under consideration.
The IIP had contracted 33.4 per cent in May 2020.
Mining output climbed 23.3 per cent and power generation increased 7.5 per cent in May.
Industrial production has been hit due to the coronavirus pandemic since March last year when it had contracted 18.7 per cent.
It shrank 57.3 per cent in April 2020 due to decline in economic activities in the wake of the lockdown to curb the spread of coronavirus infections.
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