Commodity Tips, Industrial growth slows; retail inflation at 15-month high
Worrying signs surfaced on the industrial growth and inflation fronts on Tuesday, less than two weeks after the official data showed economic growth rose 6.3 percent in the second quarter of the current financial year as against 5.7 percent in the first.
The Consumer Price Index (CPI)-based inflation rate rose to a 15-month high of 4.88 percent in November, on account of rising prices of food products, particularly vegetables, and fuels. Growth in the Index of Industrial Production (IIP) declined by almost half to a three-month low of 2.2 percent in October despite it being a festival month, from 4.1 percent in the previous month. This showed that the restocking after the goods and services tax (GST) roll-out had not given a boost to the IIP.
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