Team Blitz India
NEW DELHI: Inflation in retail prices has been reported to be a three month low of 5.1 per cent in January compared to the same month last year while the index of industrial production (IIP) was up in December year-on-year (Y-o-Y).
According to the data released by the National Statistical Office (NSO), the inflation rate fell due to moderation in the prices of cereals (7.83 per cent), milk (4.64 per cent), and fruit (8.65 per cent).
Led by broad-based moderation and a favourable base effect, the retail inflation rate, based on the consumer price index (CPI), decelerated to a three-month low of 5.10 per cent Y-o-Y in the first month of calendar year 2024.
It was 5.69 per cent in December while in January last year it was 6.52 per cent.
The growth rate in the IIP slightly increased to 3.8 per cent in December from 2.4 per cent in November on the back of improvement in the performance of the manufacturing sector (3.9 per cent).
Meanwhile, growth in mining (5.1 per cent) and electricity (1.2 per cent) decelerated during the month.In December 2022, the IIP had registered 5.1 per cent growth over December 2021.
