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etail inflation, Drop in fooD prices at 4.4 per cent in December
according 2018. Capital goods out-
to the latest put grew at 5.9 per cent,
government eases inflation compared to 13.2 per cent
R data, declined growth a year ago. Con-
marginally to 2.05 per cent sumer durables output grew
in January over the previ- Industrial output growth, meanwhile, remained by 2.9 per cent as against
ous month on continued a growth of 2.1 per cent in
decline in food prices. subdued at 2.4 per cent, reports Tehelka Bureau December 2017. Consumer
Retail inflation based on the
Consumer Price Index (CPI)
for December 2018 has also
been revised downward to
2.11 per cent from the earlier
estimate of 2.19 per cent. The
inflation was 5.07 per cent in
January 2018.
The data released by
the Central Statistics Of-
fice (CSO) further said the
inflation in the ‘fuel and
light’ category also fell to
2.2 per cent in January this
year from 4.54 per cent in
December 2018. The Re-
serve Bank of India, which
reduced the key lending rate
by 0.25 per cent last week,
mainly factors in CPI-based
inflation while arriving at its
bi-monthly monetary policy.
The central bank has revised
downwards the retail infla-
tion forecast to 2.8 per cent
for the last quarter of the
current fiscal on account of released last month. During The central bank non-durable goods growth
favourable factors including April-December 2018-19, has revised was also low at 5.3 per
benign monsoon. industrial output grew at 4.6 cent in December 2018 as
Industrial output growth, per cent against 3.7 per cent downwards the compared to 16.8 per cent
according to the CSO data, in the same period of the growth in the year-ago
remained subdued at 2.4 previous fiscal. retail inflation month.
per cent in December 2018 The manufacturing forecast to In terms of industries, 13
on account of contraction sector, which constitutes out of 23 industry groups in
in the mining segment and 77.63 per cent of the index, 2.8 per cent the manufacturing sector
poor show by the manufac- recorded a low growth of for the last showed positive growth
turing sector. Factory output 2.7 per cent in December as during December 2018. As
as measured in terms of the against 8.7 per cent expan- quarter of the per use-based classification,
Index of Industrial Produc- sion in the year-ago month. current fiscal primary goods production
tion (IIP) had grown by 7.3 Mining sector production declined by 1.2 per cent and
per cent in December 2017. contracted by 1 per cent in on account intermediate goods by 1.5
The industrial growth for December as against 1.2 per of favourable per cent. Infrastructure/
November 2018 was revised cent growth in December construction goods grew at
downwards to 0.3 per 2017. factors including 10.1 per cent.
cent from the provisional The growth of the power benign monsoon
estimate of 0.5 per cent sector output remained flat letters@tehelka.com

Tehelka / 28 february 2019 56 www.Tehelka.com