India's retail inflation rate rose to 5.69% in December, the highest level in four months
India's retail inflation rises to 4-month high of 5.69% in December
prativad 
India's headline retail inflation rose to a four-month high of 5.69% in December 2023, according to data released by the National Statistics Office (NSO) and Ministry of Statistics and Program Implementation (MoSPI) on Friday. According to the data, the Consumer Price Index (CPI) in November 2023 was 5.55%. The headline retail inflation rate has now remained above the Reserve Bank of India's (RBI) medium-term target of 4% for 51 consecutive months. However, the results were lower than expected for the second consecutive month.
Meanwhile, growth in India’s industrial output fell to 2.4 percent in November from October’s 16-month high of 11.6 per cent as fewer working days on account of Diwali took a hit on production.
Also, at 2.4 per cent, the latest industrial growth figure as per the Index of Industrial Production (IIP) is the lowest in eight months. It is also below economists’ expectations of 3.5 per cent.
In November 2022, India’s industrial output had grown by 7.6 per cent.
For April-November 2023, IIP growth stood at 6.4 per cent as against 5.6 percent in the first eight months of 2022-23.
In December 2023, growth was down due to the manufacturing sector, which saw its production rise by a mere 1.2 per cent on a year-on-year basis after having posted an increase of 10.2 per cent in October.
The sharp decline in manufacturing output growth was down to the holidays in November , which led to a reduction in working hours and as a result hit production.
With inputs from agencies
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