Photo used for representation purposes only. File | Photo Credit: Sushil Kumar Verma
India’s retail inflation fell below the 6% mark for the first time this calendar year in November, cooling to 5.88% from 6.77% in October, with food price inflation faced by consumers easing to 4.67% from over 7% in October. Rural retail inflation, however, remained high at 6.09%.
India’s industrial output contracted by a sharp 4% in October, the second time in three months that production levels have contracted year-on-year, led by a significant 5.6% drop in manufacturing output and minimal growth recorded in electricity generation. Industrial output had grown nearly 3.5% in September, as per revised numbers.
The Index of Industrial Production (IIP) stood at 129.6 in October, its lowest level since September 2021. with manufacturing output slipping to its lowest mark since June 2021. Mining output grew 2.5%, while electricity generation rose just 1.2%.