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  • Retail inflation marginally eases to six.26% in June; IIP grows 29.27% in May: Govt information

    India CPI Inflation, IIP Growth Rate: The nation’s retail inflation, measured by the Consumer Price Index (CPI), eased marginally to six.26 per cent within the month of June. Separately, India’s manufacturing unit output, measured when it comes to the Index of Industrial Production (IIP), witnessed a year-on-year development of 29.27 per cent in May, two separate information launched by the Ministry of Statistics & Programme Implementation (MoSPI) confirmed on Monday.
    The retail inflation through the month of May was at 6.30 per cent.
    This is the second successive time that the CPI information has come over the Reserve Bank of India’s (RBI) higher margin of 6 per cent. Prior to this, the CPI got here beneath 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 information is primarily factored in by the RBI whereas making its bi-monthly financial coverage. Last month, the central financial institution’s Monetary Policy Committee (MPC) had stored the repo fee unchanged for the sixth time in a row at 4 per cent whereas sustaining an ‘accommodative stance’ so long as essential to mitigate the affect of the second wave of the COVID-19 pandemic.
    The RBI, in its final MPC assembly, had projected the CPI inflation at 5.1 per cent through the ongoing monetary 12 months 2021-22. It sees CPI inflation at 5.2 per cent in Q1, 5.4 per cent in Q2, 4.7 per cent in Q3, 5.3 per cent in This autumn with dangers broadly balanced.
    The Consumer Food Price Index (CFPI) or the inflation within the meals basket, nevertheless, inched barely increased on-month throughout June to five.15 per cent, from 5.01 per cent in May, the info revealed.
    The hike within the meals basket was primarily on account of a pointy rise in costs of oils and fat which surged 34.78 per cent on 12 months in June. Apart from this, the egg costs section noticed an increase of 19.35 per cent whereas that of fruits gained 11.82 per cent and pulses and merchandise rose 10.01 per cent. Non-alcoholic drinks climbed 14.71 per cent. On the opposite hand, the greens section slipped (-)0.70 per cent and cereals and merchandise declined (-)1.94 per cent.
    Apart from meals and drinks, the gas and lightweight section rose 12.68 per cent in June, whereas clothes and footwear gained 6.21 per cent and the housing section inched up 3.75 per cent.
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  • IIP Data April 2021: India’s industrial output jumps 134.44% in April, Govt information reveals

    IIP Data April 2021: The nation’s index of commercial manufacturing (IIP) surged 134.44 per cent year-on-year to 126.6 within the month of April primarily as a consequence of a low base within the earlier yr, in response to the info launched by the Ministry of Statistics & Programme Implementation (MoSPI).
    The IIP had crashed 57.31 per cent on-year to 54.0 in April 2020, the info confirmed. This was primarily as a result of nationwide lockdown which was imposed final yr to curb the primary wave of coronavirus (Covid-19) pandemic.
    “It may be noted that the nationwide lockdown and other measures implemented to restrict the spread of Covid 19 pandemic from the end of March 2020, had led to a majority of the establishments not operating in April 2020 and consequently, there were many units which reported ‘Nil’ production, affecting comparison of the indices for the months of April 2020 and April 2021,” the National Statistical Office (NSO) stated in its assertion.

    The NSO didn’t formally compute the April IIP development information though it has offered absolutely the figures for the month.
    The manufacturing sector noticed a development of 197.15 per cent on-year to 125.1, the info confirmed. Likewise, mining sector witnessed an increase of 37.06 per cent on-year at 108.0, and the electrical energy phase grew at 38.54 per cent y-o-y at 174.0 within the month of April, the info confirmed.
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  • Low base impact pushes up IIP; cheaper meals cools inflation

    India’s industrial manufacturing grew by 22.4 per cent in March on the again of a low base impact from final yr when the nation had enforced nationwide lockdown to counter the unfold of Covid-19 pandemic, knowledge launched by National Statistical Office (NSO) on Wednesday confirmed. Index of Industrial Production (IIP) had recorded a contraction of 18.7 per cent in March 2020.
    Cumulatively, the economic output recorded a contraction of 8.6 per cent in 2020-21 as in opposition to a contraction of 0.8 in 2019-20. Before the affect of the second wave of the pandemic, the index worth of the IIP, nonetheless, confirmed enchancment on a sequential foundation, rising to 143.3 in March from 129.6. At these ranges, the IIP is 0.5 per cent decrease than the pre-pandemic stage of 144.1 in March 2019.
    Manufacturing sector output surged 25.8 per cent in March 2021, whereas mining output rose 6.1 per cent and energy technology elevated by 22.5 per cent in March.
    Going forward, IIP is more likely to take a success because of the affect of the second wave of the pandemic, economists mentioned. “In level terms the factory output in March 2021 is 106.9% of the pre-COVID period (February 2020). At broad based classification the manufacturing, electricity and mining output came in at 104.6%, 117.1% and 112.7% of the pre-COVID period… now with the second wave of COVID pandemic and associated local/partial lockdowns/curfew, it is unlikely that factory output will get any better in the near term. It is quite likely that there would be an adverse impact on the factory output over the next few months, yet the factory output on yoy terms would look good in 1QFY22 mainly due to the base effect,” Devendra Kumar Pant, Chief Economist, India Ratings & Research mentioned.

    ExpainedWeak demand circumstancesWeak demand circumstances have began reflecting in financial knowledge. Retail inflation charge eased regardless of affect of upper gasoline costs as core inflation — the non-food, non-fuel inflation part — which declined to a 10-month low of 5.43 per cent in April.

    Separately launched knowledge on inflation confirmed retail slowing to 4.29 per cent in April from 5.52 per cent in March, primarily on account of decrease meals costs. Food inflation charge eased to 2.02 per cent in April from 4.87 per cent in March this yr.
    The low meals inflation was primarily led by deeper deflation in cereals and merchandise to (-)3.0 per cent in April from 7.8 per cent in April final yr and better sequential deflation in vegetable costs to (-)14.2 per cent in April as in opposition to 23.6 per cent in April final yr. Higher inflation was recorded in April for gasoline and lightweight at 7.9 per cent and well being at 7.8 per cent. Health inflation has elevated sharply on account of COVID associated bills and has been greater than 5 per cent since October 2020.

    Weak demand circumstances have began reflecting in core inflation — the non-food, non-fuel inflation part — ,which declined to 10-month low of 5.43 per cent in April.
    “This fall is in spite of an increase in the inflation rate in the category of fuel and light. This pattern is indicative of the fact that while a cost push inflation is still operating through petroleum prices, lower demand for food and beverages, clothing and footwear, transport and communications and miscellaneous goods have driven the overall inflation down. The policy message is that the government needs to support demand without getting excessively concerned about the pressure on prices of petroleum products,” D Ok Srivastava, Chief Policy Advisor, EY India mentioned.

  • Retail inflation eases to 4.29% in April; IIP grows 22.4% in March: Govt information

    India CPI Inflation, IIP Growth Rate: The nation’s retail inflation, measured by the Consumer Price Index (CPI), eased to 4.29 per cent within the month of April. Separately, India’s manufacturing unit output, measured by way of the Index of Industrial Production (IIP), witnessed a progress of twenty-two.4 per cent in March, two separate information launched by the Ministry of Statistics & Programme Implementation (MoSPI) confirmed on Monday.
    The retail inflation in the course of the month of March was at 5.52 per cent.
    According to a latest Reuters ballot, retail inflation was anticipated to have eased to a three-month low of 4.20 per cent in April.
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  • Retail inflation rises to five.52% in March; IIP contracts 3.6% in February: Govt knowledge

    India CPI Inflation, IIP Growth Rate: India’s retail inflation, measured by the Consumer Price Index (CPI), rose to five.52 per cent within the month of March. Separately, the nation’s manufacturing facility output, measured when it comes to the Index of Industrial Production (IIP), witnessed a contraction of (-)3.6 per cent in February, two separate knowledge launched by the Ministry of Statistics & Programme Implementation (MoSPI) confirmed on Monday.
    The retail inflation throughout the month of February was at 5.03 per cent.
    According to a current Reuters ballot, retail inflation was anticipated to have risen to five.40 per cent in March from a 12 months earlier.

    This is the fourth consecutive month that the CPI knowledge has come throughout the Reserve Bank of India’s (RBI) higher margin of 6 per cent. At the tip of final month, the federal government requested the RBI to take care of retail inflation at 4 per cent with a margin of two per cent on both facet for one more five-year interval ending March 2026.
    The retail inflation knowledge is primarily factored in by the RBI whereas making its bi-monthly financial coverage. Last week, the Monetary Policy Committee (MPC) of RBI saved the repo charge unchanged for the fifth time in a row at 4 per cent whereas sustaining an ‘accommodative stance’ so long as essential to mitigate the impression of the COVID-19 pandemic.
    The rise in retail inflation final month may be attributed to the rise in meals costs. The Consumer Food Price Index (CFPI) or the inflation within the meals basket rose to 4.94 per cent within the month of March, up from 3.87 per cent in February, the info revealed.
    The month-on-month rise within the meals basket was led by an increase in costs of oils and fat which rose a whopping 24.92 per cent in March, whereas that of meat and fish rose 15.09 per cent, the info confirmed. Non-alcoholic drinks gained 14.41 per cent whereas pulses and merchandise phase additionally witnessed an increase of 13.25 per cent and egg costs too rose 10.60 per cent. Vegetable costs, nevertheless, slipped -4.83 per cent on-year in March.
    Index of Industrial Production (IIP)
    India’s manufacturing facility output witnessed a contraction of (-)3.6 per cent on-year to 129.4 throughout the month of February, separate knowledge launched by the MoSPI confirmed.
    According to the info, the IIP had grown 5.2 per cent in February 2020.
    So far within the fiscal 12 months 2020-21 (April-February), the commercial sector has seen a contraction of (-)11.3 per cent, in comparison with a 1.0 per cent progress within the corresponding interval a 12 months in the past, the info confirmed.

    The contraction in IIP throughout February is totally on account of the manufacturing and mining sectors. The manufacturing sector noticed a contraction of -3.7 per cent on-year to 129.3 in February, whereas the mining sector witnessed a fall of -5.5 per cent to 116.5. The electrical energy sector however rose 0.1 per cent to 153.9, the MoSPI knowledge confirmed.
    In the corresponding month 12 months in the past, the manufacturing sector had risen of three.8 per cent, the mining sector had witnessed an increase of 9.6 per cent and the electrical energy sector had gained 11.5 per cent.
     

  • Retail inflation rises to five.03% in Feb; IIP contracts 1.6% in Jan: Govt knowledge

    The nation’s retail inflation, measured by the Consumer Price Index (CPI), rose to five.03 per cent within the month of February. Separately, India’s manufacturing unit output, measured by way of the Index of Industrial Production (IIP), witnessed a contraction of (-)1.6 per cent in January, two separate knowledge launched by the Ministry of Statistics & Programme Implementation (MoSPI) confirmed on Friday.
    The retail inflation through the month of January was at 4.06 per cent.
    This is the third straight month that the CPI knowledge 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 maintain retail inflation inside the vary of 4 per cent with a margin of two per cent on both aspect. The retail inflation knowledge is primarily factored in by the RBI whereas making its bi-monthly financial coverage.
    The rise in retail inflation final month was primarily attributable to an increase in meals costs. The Consumer Food Price Index (CFPI) or the inflation within the meals basket rose to three.87 per cent within the month of February, up from 1.96 per cent in January, the info revealed.
    The month-on-month rise within the meals basket was led by an increase in costs of oils and fat which rose 20.78 per cent in February, whereas that of pulses and merchandise rose 12.54 per cent, the info confirmed. Non-alcoholic drinks gained 13.92 per cent whereas meat and fish section additionally witnessed an increase of 11.34 per cent and egg costs too rose 11.13 per cent. Vegetable costs nonetheless, slipped -6.27 per cent on-year in February.
    Index of Industrial Production (IIP)
    India’s manufacturing unit output or IIP witnessed a contraction of (-)1.6 per cent on-year to 135.2 through the month of January, separate knowledge launched by the MoSPI confirmed.
    According to the info, the IIP had grown 2.2 per cent in January 2020.
    So far within the fiscal 12 months 2020-21 (April-January), the commercial sector has seen a contraction of (-)12.2 per cent, in comparison with a 0.5 per cent progress within the corresponding interval a 12 months in the past, the info confirmed.

    The contraction in IIP throughout January is totally on account of the manufacturing and mining sectors. The manufacturing sector noticed a contraction of -2.0 per cent on-year to 135.1 in January, whereas the mining sector witnessed a fall of -3.7 per cent to 119.7. The electrical energy sector however rose 5.5 per cent to 164.2, the MoSPI knowledge confirmed.
    In the corresponding month 12 months in the past, the manufacturing sector had risen of 1.8 per cent, the mining sector had witnessed an increase of 4.4 per cent and the electrical energy sector had gained 3.1 per cent.

  • Retail inflation eases to 4.06% in Jan; IIP grows 1% in Dec: Govt information

    India CPI Inflation, IIP Growth Rate: India’s retail inflation, which is measured by the Consumer Price Index (CPI), eased to 4.06 per cent within the month of January 2021. Separately, the nation’s manufacturing facility output, measured when it comes to Index of Industrial Production (IIP), witnessed a progress of 1 per cent in December 2020, two separate information launched by the Ministry of Statistics & Programme Implementation (MoSPI) confirmed on Friday.
    The retail inflation through the month of December 2020 was at 4.59 per cent.
    This is the second consecutive month the 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 maintain retail inflation inside the vary of 4 per cent with a margin of two per cent on both aspect.
    The retail inflation information is primarily factored in by the RBI whereas making its bi-monthly financial coverage. In its bi-monthly financial coverage assembly held final week, the Indian central financial institution had saved its key rates of interest unchanged and determined to keep up an ‘accommodative stance’ so long as needed for the fourth time in a row.
    Index of Industrial Production (IIP)
    India’s manufacturing facility output, which is measured in IIP witnessed a progress of 1 per cent on-year to 135.9 through the month of December 2020, separate information launched by the MoSPI confirmed.

  • Retail inflation grows 4.59% in Dec; IIP slips -1.9% in Nov: Govt information

    India CPI Inflation, IIP Growth Rate: The nation’s retail inflation, which is measured by the Consumer Price Index (CPI), eased to 4.59 per cent within the month of December. Separately, India’s manufacturing facility output, measured by way of Index of Industrial Production (IIP), witnessed a contraction of -1.9 per cent in November, two separate information launched by the Ministry of Statistics & Programme Implementation (MoSPI) confirmed on Tuesday.
    The retail inflation for the month of November was 6.93 per cent.
    The December CPI information has come throughout the Reserve Bank of India’s (RBI) higher margin of 6 per cent. The authorities has mandated the central financial institution to maintain retail inflation throughout the vary of 4 per cent with a margin of two per cent on both aspect.
    RBI primarily components in retail inflation whereas making its bi-monthly financial coverage. In its bi-monthly financial coverage assembly final month, the Indian central financial institution had saved its key rates of interest unchanged and determined to take care of an ‘accommodative stance’ so long as obligatory at the least by means of the present monetary 12 months.
    The decline in retail inflation in December was primarily resulting from easing meals costs. The Consumer Food Price Index (CFPI) or the inflation within the meals basket eased to three.41 per cent within the month of December, down from 9.50 per cent in November, the information revealed.
    The progress in inflation was primarily resulting from an increase in vegetable costs that surged 22.51 per cent on-year rise in December. Apart from greens, the eggs section noticed an increase of 21.81 per cent, whereas that of meat and fish rose 18.70 per cent and pulses and merchandise costs gained 18.34 per cent. The oils and fat section additionally witnessed an increase of 15.17 per cent.
    Index of Industrial Production (IIP)
    India’s manufacturing facility output, which is measured by way of IIP witnessed a contraction of -1.9 per cent on-year to 126.3 throughout the month of November, separate information launched by the MoSPI confirmed.
    The IIP had grown/slipped xx per cent in November 2019, the information confirmed.
    The industrial progress thus far within the fiscal 12 months 2020-21 (April-November) has contracted xx per cent, in comparison with a xx per cent rise within the corresponding interval a 12 months in the past, the information confirmed.
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