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Double cheer for economy as IIP surges 8.1%, CPI cools 2.3%

Updated : December 13, 2018 15:03:46 IST

The government on Wednesday announced key macroeconomic numbers with Index of Industrial Production (IIP) in October hitting its highest level in 11 months and retail inflation dropping to its lowest level in 15 months in November.

IIP rose 8.1 percent in October as against 4.5 percent in September on the back of mining, power and manufacturing sectors coupled with higher offtake of capital as well as consumer durable goods. The previous high IIP growth rate was recorded in November last year at 8.5 per cent.

The consumer price index (CPI) inflation rate for November fell to a one-and-half year low of 2.33 percent against October’s 3.77 percent, mainly on account of decline in prices of kitchen essentials.

According to data showed by the ministry of statistics and programme implementation, the food inflation for November stood at -2.61 percent compared to -0.86 percent in October, while the fuel and light inflation fell to 7.39 percent compared to 8.55 percent in the previous month. CPI in the first half of 2018-19 averaged around 4.4 percent.

(With inputs from PTI)

Here is CNBC-TV18 Latha Venkatesh's take on the key macroeconomic data...
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