There is no relief for the common people from inflation, the retail rate reached 5.59 percent; 1.4% increase in IIP

The CPI based retail inflation was 4.91 percent in November, 2021 and 4.59 percent in December, 2020. According to data released by the National Statistical Office (NSP), food inflation rose to 4.05 per cent in December from 1.87 per cent in the previous month.

Retail inflation has increased to 5.59 percent.

Common people rising inflation (inflation) are troubled. They do not see any hope of getting relief from this. According to government data released on Wednesday, retail inflation (Retail Inflation) rate has increased to 5.59 percent. Common people are most affected by retail inflation. food products (Food ProductsRetail inflation has risen to 5.59 percent in December from 4.91 percent in November due to rising prices.

Consumer Price Index (CPI) based retail inflation stood at 4.91 per cent in November, 2021 and 4.59 per cent in December, 2020. According to data released by the National Statistical Office (NSP), food inflation rose to 4.05 per cent in December from 1.87 per cent in the previous month.

1.4% increase in IIP

The Reserve Bank mainly looks at retail inflation data in the bi-monthly monetary review. The central bank believes that the inflation figure will remain high for the remaining period of the financial year due to the unfavorable base effect. According to the Reserve Bank, gross inflation will be at its highest level in the fourth quarter of the current financial year. From then on it will come down.

On the other hand, the Index of Industrial Production (IIP) has seen an increase. According to official data released on Wednesday, industrial production declined by 1.6 percent in November 2020. According to the Industrial Production Index data released by the National Statistical Office (NSO), the manufacturing sector’s production grew by 0.9 percent in November last year.

Industrial production has been affected due to Corona

Mining production has increased by five percent in November 2021 and electricity generation has seen a growth of 2.1 percent. In November 2020, the IIP had declined by 1.6 per cent. IIP grew by 17.4 per cent during April-November in the current financial year, as compared to a decline of 15.3 per cent in the same period last year.

India’s industrial production has been affected since March 2020 due to the global pandemic Corona virus infection. Last year, when the figures were released after the lockdown, it saw a decline of 18.7 percent. In April 2020, there was a decline of 57.3 percent when economic activities came to a complete halt due to the lockdown imposed to prevent the spread of corona virus infection.

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