Retail inflation falls to 1 year low of 5.72 per cent in December 2022 latest business updates


Image Source : PTI/ REPRESENTATIONAL (FILE). Retail inflation falls to 1 year low of 5.72 per cent in December month.

Retail inflation in December 2022: Retail inflation declined to a one-year low of 5.72 per cent in December 2022, mainly due to softening prices of food items, according to official data released on Thursday (January 12).

The Consumer Price Index (CPI) based retail inflation was at 5.88 per cent in November 2022 and 5.66 per cent in December 2021. As per the data released by the National Statistical Office (NSO), inflation in the food basket was at 4.19 per cent in December as against 4.67 per cent in November.

After remaining above the Reserve Bank of India’s upper tolerance threshold of 6 per cent since January 2022, retail inflation declined in November to 5.88 per cent and further in December to 5.72 per cent- its lowest level in one year.

Industrial production rises 7.1 pc in November, says Govt data

Meanwhile, India’s industrial production rose by 7.1 per cent in November 2022 after contracting in October, according to official data released on Thursday. The Index of Industrial Production (IIP) grew by 1 per cent in November 2021.

As per the IIP data released by the National Statistical Office (NSO), the manufacturing sector’s output grew by 6.1 per cent in November 2022. The mining output rose by 9.7 per cent and power generation increased by 12.7 per cent during the month under review.

(With PTI inputs)

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