Retail Inflation Eases to 4.59% in Dec; IIP Contracts 1.9% in Nov

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(Photo: IANS)

According to data from the Ministry of Statistics and Programme Implementation, the Index of Industrial Production (IIP) shrank by 1.9 percent in November 2020, compared to its 2.1 percent growth last November.

While the mining output declined 7.3 percent, power generation grew 3.5 percent.

In March 2020, Industrial production fell sharply by 18.7 percent amid the COVID-19 pandemic, PTI reported.

Government data also reveals that Consumer Price Index (CPI)-based inflation reduced to 4.59 percent in December 2020 compared to 6.93 percent in November, Business Standard reported.

The decline can be attributed to a reduction in food prices, as food inflation fell to 3.41 percent in December, compared to 9.5 percent in November 2020, PTI reported.

(With inputs from PTI and Business Standard)