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Retail inflation fell marginally to a one-year low of 4.75 per cent in May. According to government data released on Wednesday, retail inflation fell due to a slight decline in prices of some kitchen items.
The Consumer Price Index (CPI) based retail inflation was recorded at 4.83 percent in April 2024. Whereas in May 2023 this rate was 4.31 percent. Which is the previous lower heading. Food inflation was 8.69 percent in May. Which was marginally lower than the April rate of 8.70 percent. Retail inflation has been gradually improving since February 2024. However, there was a slight improvement from 5.1 percent in February to 4.8 percent in April 2024. It is worth noting that the government had entrusted the Reserve Bank with the responsibility of ensuring that CPI inflation remains at four percent with a variation of two percent. Earlier this month, the RBI had projected the CPI inflation rate at 4.5 percent for 2024-25.
Ahmedabad. India's industrial production growth (IIP) fell to a three-month low of five percent in April 2024. The main reason for this decline is the weak performance of the manufacturing sector. Of course, the mining and power sectors performed well, according to official data released on Wednesday. The production rate based on the Index of Industrial Production (IIP) was recorded at 4.6 percent in April 2023. In April this year, the growth rate of mining production increased to 6.7 percent and the rate of power generation increased to 10.2 percent. In terms of the Index of Industrial Production, the factory production growth rate was 5.4 percent in March and 5.6 percent in February 2024. Data released by the National Statistical Office showed that the production growth of the manufacturing sector was 3.9 percent in April 2024.
