Factory output measured by Index of Industrial Production (IIP) for the November month improved drastically to 8.4% as against 2.2% in October. While CPI or consumer price inflation reflecting inflation at retail level spooked further in line with estimates at 5.2% for the December month. In November, retail inflation surpassed government's benchmark target of 4% to hit 4.88%.
Retail Inflation Hardened Further At 5.2%; IIP Growth Improves
The CPI level in the corresponding period a year ago stood at 3.41%.
The increase in retail inflation mainly due to surge in fuel and vegetable prices will only add to the woes of the economy with no room for rate cut by RBI.
This is the last set of data which Finance Minister Arun Jaitley will have for finalizing Union Budget 2018.
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