Industrial Output at 6-month high |
India`s retail inflation shot up to a seven-month high in May on the back of higher food and vegetable prices, while industrial output growth rose to a six-month high in April, prompting economists to say that there is a need to revive demand. According to Data from National Statistics Office, retail inflation, as measured by the consumer price index (CPI), rose to 3.1% in May from the previous month`s 3%, but well below the RBI`s target. Separate data showed the index of industrial production rose 3.4% in April — faster than the previous months` upwardly revised 0.4%, but slower than the 4.5% in the year-ago period. CPI inflation is expected to gradually pick up over the coming months on the back of a low base effect, it shall continue to remain around 4% during FY20.
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