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  • Retail inflation eases to 7.01% in June; IIP grows 19.6% in May, reveals govt knowledge

    India CPI Inflation, IIP Growth Rate: The nation’s retail inflation, which is measured by the Consumer Price Index (CPI), rose to 7.01 per cent within the month of June. Separately, India’s manufacturing facility output, measured when it comes to Index of Industrial Production (IIP), witnessed a development of 19.6 per cent in May, two separate knowledge launched by the Ministry of Statistics & Programme Implementation (MoSPI) confirmed on Tuesday.

    The retail inflation for the month of May was 7.04 per cent.

    This is the sixth consecutive month that the CPI knowledge has breached the Reserve Bank of India’s (RBI) higher margin of 6 per cent. The authorities has mandated the central financial institution to keep up retail inflation at 4 per cent with a margin of two per cent on both aspect for a five-year interval ending March 2026.

    The CPI knowledge is especially factored in by the RBI whereas making its bi-monthly financial coverage. The central financial institution has forecast that inflation is anticipated to be above seven per cent – a lot above the RBI’s consolation degree — within the first two quarters of the present fiscal.

    In its earlier two conferences, the Monetary Policy Committee (MPC) of RBI has hiked the benchmark repo price by a cumulative 90 foundation factors (bps). It raised the repo price by 40 bps in an off-cycle assembly in May and by 50 bps in its June assembly.

    The Consumer Food Price Index (CFPI) or the inflation within the meals basket additionally eased on-month throughout June to 7.75 per cent, from 7.97 per cent in May, the information revealed.

    Prices of greens surged 17.37 per cent on yr in June. Apart from this, the oils and fat costs noticed an increase of 9.36 per cent whereas that meat and fish gained 8.61 per cent and spices rose 11.04 per cent. Milk and merchandise spiked 6.08 per cent final month whereas cereals and merchandise climbed 5.66 per cent. However, egg costs fell (-)5.48 per cent whereas pulses and merchandise dipped (-)1.02 per cent.

    Apart from meals and drinks, the gasoline and light-weight phase rose 10.39 per cent, clothes and footwear gained 9.52 per cent, housing phase inched up 3.93 per cent and the pan, tobacco and intoxicants rose 1.83 per cent.

    Industrial output (IIP)

    India’s manufacturing facility output, which is measured when it comes to IIP witnessed a pointy development of 19.6 per cent year-on-year to 137.7 through the month of May, separate knowledge launched by the MoSPI confirmed.

    The IIP had surged 27.6 per cent in May 2021, the information confirmed.

    The industrial development to this point within the first two months of the fiscal yr 2022-23 (April-May) has risen 12.9 per cent, in comparison with a surge of 67.3 per cent rise within the corresponding interval a yr in the past, the information confirmed.

     

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  • Retail inflation spikes to six.95% in Mar; IIP grows 1.7% in Feb, reveals govt knowledge

    India CPI Inflation, IIP Growth Rate: The nation’s retail inflation, which is measured by the Consumer Price Index (CPI), rose to six.95 per cent within the month of March. Separately, India’s manufacturing facility output, measured when it comes to Index of Industrial Production (IIP), witnessed a progress of 1.7 per cent in February, two separate knowledge launched by the Ministry of Statistics & Programme Implementation (MoSPI) confirmed on Tuesday.

    The retail inflation for the month of February was 6.07 per cent.

    This is the third consecutive month that the CPI knowledge has breached the Reserve Bank of India’s (RBI) higher margin of 6 per cent. The authorities has mandated the central financial institution to take care of retail inflation at 4 per cent with a margin of two per cent on both aspect for a five-year interval ending March 2026.

    The CPI knowledge is especially factored in by the RBI whereas making its bi-monthly financial coverage. Last week, the Monetary Policy Committee (MPC) of the central financial institution unanimously determined to maintain the repo fee unchanged for the eleventh time in a row at 4 per cent whereas sustaining an ‘accommodative stance’ however added that it’s going to begin specializing in withdrawing this stance to rein in inflation whereas supporting progress.

    During the assembly held final week, RBI projected CPI inflation at 5.7 per cent throughout the monetary yr 2022-23 with Q1 at 6.3 per cent, Q2 at 5.8 per cent, Q3 at 5.4 per cent and This fall at 5.1 per cent.

    RBI Governor Shaktikanta Das in his speech mentioned that given the extreme volatility in international crude oil costs since late February and the intense uncertainty over the evolving geopolitical tensions, any projection of progress and inflation is fraught with danger, and is essentially contingent upon future oil and commodity value developments.

    The Consumer Food Price Index (CFPI) or the inflation within the meals basket additionally spiked on-month throughout March to 7.68 per cent, from 5.85 per cent in February, the info revealed.

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  • IIP Data January 2022: India’s industrial output climbs 1.3% in Jan, says Govt information

    IIP Data January 2022: The nation’s index of business manufacturing (IIP) grew 1.3 per cent to 138.4 within the month of January, information launched by the Ministry of Statistics & Programme Implementation (MoSPI) on Friday confirmed.

    The IIP had slipped (-)0.6 per cent in January 2021, the information confirmed.

    The industrial development thus far within the fiscal yr 2021-22 (April-January) has grown 13.7 per cent, in comparison with a contraction of (-)12.0 per cent rise within the corresponding interval a yr in the past, the information confirmed.

    The development in IIP information throughout January is led by all of the sectors. The mining sector rose of two.8 per cent on-year to 124.7 in January, the manufacturing sector witnessed a development of 1.1 per cent to 138.1 and the electrical energy sector climbed 0.9 per cent to 165.6, the MoSPI information confirmed.

    In January final yr, the manufacturing sector had witnessed a contraction of (-)0.9 per cent. During the identical month, the mining sector had slipped (-)2.4 per cent whereas the electrical energy sector had witnessed an increase of 5.5 per cent, the information confirmed.

    Now, amongst used primarily based items, the first items output rose 1.6 per cent in January this yr, whereas that of capital items slipped (-)1.4 per cent. Intermediate items output rose 0.9 per cent and infrastructure/building items climbed 5.4 per cent, whereas shopper durables rose by 3.3 per cent and shopper non-durables grew 2.1 per cent, as per the information.

  • IIP December 2021: India’s industrial output rises 0.4% in December, Govt information reveals

    IIP Data December 2021: The nation’s index of commercial manufacturing (IIP) inched up 0.4 per cent year-on-year to 138.0 within the month of December, in keeping with the info launched by the Ministry of Statistics & Programme Implementation (MoSPI) on Friday.
    The IIP had risen 2.2 per cent on-year to 137.4 in December 2020, the info confirmed.
    The industrial development to this point within the fiscal 12 months 2021-22 (April-December) has surged 15.2 per cent, in comparison with a contraction of (-)13.3 per cent within the corresponding interval a 12 months in the past, the info confirmed.
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  • Retail inflation spikes to five.59% in Dec; IIP grows 1.4% in Nov: Govt information

    India CPI Inflation, IIP Growth Rate: The nation’s retail inflation, which is measured by the Consumer Price Index (CPI), rose to five.59 per cent within the month of December. Separately, India’s manufacturing facility output, measured when it comes to Index of Industrial Production (IIP), witnessed a progress of 1.4 per cent in November, two separate information launched by the Ministry of Statistics & Programme Implementation (MoSPI) confirmed on Wednesday.
    The retail inflation for the month of November was 4.91 per cent.
    The December CPI information has come inside the Reserve Bank of India’s (RBI) higher margin of 6 per cent. The authorities has mandated the central financial institution to keep up retail inflation at 4 per cent with a margin of two per cent on both aspect for a five-year interval ending March 2026.
    The CPI information is principally factored in by the RBI whereas making its bi-monthly financial coverage. Last month, the Monetary Policy Committee (MPC) of the central financial institution stored the repo charge unchanged for the ninth time in a row at 4 per cent whereas sustaining an ‘accommodative stance’ so long as mandatory.

    During the final assembly, RBI maintained the projected CPI inflation at 5.3 per cent through the ongoing monetary yr 2021-22. It estimated CPI inflation at 5.7 per cent in This autumn with dangers broadly balanced.
    The Consumer Food Price Index (CFPI) or the inflation within the meals basket additionally spiked on-month throughout December to 4.05 per cent, from 1.87 per cent in November, the info revealed.
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  • IIP October 2021: India’s industrial output rises 3.2% in Oct, Govt knowledge exhibits

    IIP Data October 2021: The nation’s index of commercial manufacturing (IIP) grew 3.2 per cent to 133.7 within the month of October, in response to the info launched by the Ministry of Statistics & Programme Implementation (MoSPI).
    The IIP had risen 4.5 per cent in October 2020, the info confirmed.
    The industrial progress to date within the fiscal yr 2021-22 (April-October) has grown 20.0 per cent, in comparison with a contraction of (-)17.3 per cent rise within the corresponding interval a yr in the past, the info confirmed.
    The rise in IIP knowledge throughout October is primarily led by the mining and electrical energy sectors. The mining sector noticed an increase of 11.4 per cent on-year to 109.7 in October, whereas the electrical energy sector witnessed a progress of three.1 per cent to 167.3. The manufacturing sector too rose 2.0 per cent to 134.7, the MoSPI knowledge confirmed.
    In October final yr, the manufacturing sector had witnessed a progress of 4.5 per cent. During the identical interval, the mining sector had slipped (-)1.0 per cent and the electrical energy sector had witnessed a progress of 11.2 per cent, the info confirmed.
    Among used based mostly items, the first items output rose 9.0 per cent in October this yr, whereas that of capital items slipped (-)1.1 per cent. Intermediate items output rose 2.1 per cent and infrastructure/building items climbed 5.3 per cent, whereas client durables fell by (-)6.1 per cent and client non-durables grew 0.5 per cent, as per the info.

  • Retail inflation rises marginally to 4.48% in Oct; IIP grows 3.1% in Sept: Govt knowledge

    India CPI Inflation, IIP Growth Rate: The nation’s retail inflation, measured by the Consumer Price Index (CPI), rose marginally to 4.48 per cent within the month of October. Separately, India’s manufacturing unit output, measured when it comes to the Index of Industrial Production (IIP), witnessed a year-on-year development of three.1 per cent in September, two separate knowledge launched by the Ministry of Statistics & Programme Implementation (MoSPI) confirmed on Friday.
    The retail inflation throughout the month of September was at 4.35 per cent.
    This is the fourth successive month that the CPI knowledge has come under the Reserve Bank of India’s (RBI) higher margin of 6 per cent. The authorities has requested the central financial institution to take care of retail inflation at 4 per cent with a margin of two per cent on both facet for a five-year interval ending March 2026.
    The CPI knowledge is principally factored in by the RBI whereas making its bi-monthly financial coverage. Last month, the Monetary Policy Committee (MPC) of the central financial institution stored the repo fee unchanged for the eighth time in a row at 4 per cent, slashed the inflation goal for 2021-22 to five.3 per cent, and indicated the unwinding of the accommodative coverage because the financial system reveals indicators of rising from the affect of the Covid-19 pandemic.
    The Consumer Food Price Index (CFPI) or the inflation within the meals basket inched larger on-month throughout October to 0.85 per cent, from 0.68 per cent in September, the information revealed.
    The marinal hike within the meals basket was primarily because of a pointy rise in costs of oils and fat which surged 33.50 per cent on-year in October. Apart from this, meat and fish costs section noticed an increase of seven.12 per cent whereas that of pulses and merchandise gained 5.42 per cent and milk and merchandise rose 3.19 per cent. Non-alcoholic drinks climbed 11.40 per cent. On the opposite hand, the greens section slipped (-)19.43 per cent and egg costs declined (-)1.38 per cent.
    Apart from meals and drinks, the gasoline and light-weight section rose 14.35 per cent in October, whereas clothes and footwear gained 7.53 per cent and the housing section inched up 3.54 per cent.
    Index of Industrial Production (IIP)
    In a separate knowledge launched by MoSPI, the nation’s manufacturing unit output witnessed a development of three.1 per cent on-year to 127.9 throughout the month of September.
    The IIP had risen 1.0 per cent on-year to 124.1 in September 2020, the information confirmed.
    So far within the fiscal yr 2021-22 (April-September), the economic sector has seen an increase of 23.5 per cent, in comparison with a (-)20.8 per cent contraction within the corresponding interval a yr in the past, the information confirmed.
    The development in IIP throughout September was led by the mining sector adopted by manufacturing and electrical energy sectors. The mining sector noticed a development of 8.6 per cent on-year to 95.1 in September, whereas the manufacturing sector noticed an increase of two.7 per cent to 129.9. The electrical energy sector too rose 0.9 per cent to 167.9, the MoSPI knowledge confirmed.
    In the corresponding month yr in the past, the manufacturing sector had grown 0.4 per cent, the mining sector had witnessed an increase of 1.4 per cent and the electrical energy sector had risen 4.9 per cent.

  • Retail inflation in Sept falls to 4.35%, IIP grows 11.9% in August: Govt information

    Retail inflation progress throughout the nation primarily based on Consumer Price Index (CPI) fell to 4.35 per cent within the month of September as meals costs dropped, the info launched by the Ministry of Statistics & Programme Implementation (MoSPI) confirmed.
    Separately, the Index of Industrial Production (IIP) witnessed a progress of 11.9 per cent in August, in accordance with the federal government information.
    In August, the CPI inflation price eased to a four-month low of 5.3 per cent on account of moderation in meals costs together with a excessive base impact. As against this, retail inflation had jumped to an eight-month excessive of seven.34 per cent in September 2020, primarily pushed by increased meals inflation.
    In July 2021, the economic output rose by 11.5 per cent as towards a ten.5 per cent contraction in July 2020, led by sharp growth within the mining sector and progress recorded by the electrical energy and manufacturing sectors.
     

  • IIP information: Mining, energy, drive manufacturing unit output to close pre-Covid stage

    Industrial output rose by 11.5 per cent in July 2021 as towards a ten.5 per cent contraction in July 2020, led by sharp enlargement within the mining sector and progress recorded by the electrical energy and manufacturing sectors, information launched by the National Statistical Office (NSO) confirmed on Friday.
    The July information present industrial output at close to pre-pandemic ranges, and analysts count on progress to rise additional in August. The industrial output for July was decrease than the 13.6 per cent recorded in June, which was impacted by the low base of 2020.
    The July quantity too was helped by the bottom impact, and it’s prone to be an element within the August information too. It is prone to wane from September onward — and the revival from there on will hinge largely on an enchancment in demand for client items, which is prone to immediate corporations to construct up shares from August onward.
    Activity was impacted in April and May final 12 months because of the nationwide lockdown, however had picked up tempo thereafter. For the April-July interval, the Index of Industrial Production (IIP) confirmed a progress fee of 34.1 per cent, as in comparison with a contraction of 29.3 per cent throughout the identical interval final 12 months.
    “The overall index at 131.4 was impressive as it was 117.9 last year. However, it was marginally lower than the 131.8 recorded in 2019. Therefore, it can be said that growth level has just about reached that of 2019,” Madan Sabnavis, Chief Economist at CARE Ratings, stated.
    All sectors witnessed excessive progress as a result of a mix of the lockdown being withdrawn; in most of those sectors, the bottom impact was in play as as properly. Mining grew essentially the most at 19.5 per cent in July 2021, in comparison with a contraction of 12.7 per cent in July 2020. Electricity output expanded 11.1 per cent as towards a contraction of two.5 per cent this month final 12 months.
    Manufacturing, which contains 77.63 per cent of the IIP, recorded an increase of 10.5 per cent in July 2021 in comparison with a 11.4 per cent contraction in July 2020.
    The manufacturing sector recorded a progress of 13 per cent in June 2021, and 34.5 per cent in May 2021. Compared to the earlier months this 12 months, progress has slowed because the impact of low base began to wane from June onward.

    “We may expect a high growth rate in August too as last year there was a decline in growth. However, from September onward, the base effect will get diluted sharply as growth was positive in the next two months (of last year). A critical part would be the expected revival in demand, especially for consumer goods, which will make firms build up stocks from August onward,” Sabnavis stated.
    For the April-July interval, manufacturing grew at 39 per cent, mining at 25.3 per cent, and electrical energy at 15.2 per cent. “The growth rates over the corresponding period of previous year are to be interpreted considering the unusual circumstances on account of Covid-19 pandemic since March 2020,” the NSO famous in its report.
    Capital items output, which signifies funding, rose by 29.5 per cent in July, in comparison with 25.7 per cent in June. Consumer durables output grew by 20.2 per cent in July, down from 30.1 per cent in June this 12 months.

    “On an encouraging note, all the use-based categories except consumer durables recovered to or above their pre-Covid levels in July 2021… Notably, the manufacturing index in July 2021 (130.9) was nearly as high as the level in October 2020 (132.0) during last year’s festive season, which offers a glimpse into the strength of the revival after the second wave,” stated Aditi Nayar, Chief Economist, ICRA.
    “We expect the considerable 25 per cent shortfall in rainfall relative to the long period average to boost the performance of mining and infrastructure/construction in August 2021, given the extended window for such activities… With an expected uptick in mining, electricity and infrastructure/ construction goods amidst a weaker performance of the auto sector, we project the IIP growth to improve to 13-15 per cent in August 2021,” she stated.

  • Retail inflation eases to five.59% in July; IIP grows 13.6% in June: Govt knowledge

    India CPI Inflation, IIP Growth Rate: The nation’s retail inflation, measured by the Consumer Price Index (CPI), eased to five.59 per cent within the month of July. Separately, India’s manufacturing unit output, measured when it comes to the Index of Industrial Production (IIP), witnessed a year-on-year progress of 13.6 per cent in June, two separate knowledge launched by the Ministry of Statistics & Programme Implementation (MoSPI) confirmed on Thursday.
    The retail inflation in the course of the month of June was at 6.26 per cent.
    This is the second successive time that the CPI knowledge has come over the Reserve Bank of India’s (RBI) higher margin of 6 per cent. Prior to that, the CPI got here under the 6 per cent mark for 5 consecutive months. The authorities has requested the central financial institution to take care of retail inflation at 4 per cent with a margin of two per cent on both aspect for a five-year interval ending March 2026.
    CPI knowledge is primarily factored in by the RBI whereas making its bi-monthly financial coverage. Last week, the central financial institution’s Monetary Policy Committee (MPC) had saved the repo price unchanged for the seventh time in a row at 4 per cent whereas sustaining an ‘accommodative stance’.
    The RBI, in its newest MPC assembly, raised the CPI inflation forecast at 5.7 per cent from 5.1 per cent estimated earlier in the course of the ongoing monetary yr 2021-22 (FY22). It sees CPI inflation at 5.9 per cent in Q2, 5.3 per cent in Q3, 5.8 per cent in This autumn with dangers broadly balanced. The CPI inflation for Q1 FY23 is projected at 5.1 per cent.
    The Consumer Food Price Index (CFPI) or the inflation within the meals basket, too slipped on-month throughout July to three.96 per cent, from 5.15 per cent in June, the information revealed.
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