Home / Business / Money / Nov IIP at 5-mo high, Dec consumer inflation beats estimate

Nov IIP at 5-mo high, Dec consumer inflation beats estimate

The News International Team

There was some cheer on the industrial output front with the index reading for November coming in at a five-month high of 3.8 percent, compared to a contraction of 4.2 percent in October.

The latest reading is way above the expected reading 2.2 percent, according to the average of a poll by CNBC-TV18.

Consumer inflation for December was 5.2 percent, compared to 4.38 percent the previous month. The rise in inflation was expected, but still below the CNBC-TV18 poll estimate of 5.2 percent.

Index if Industrial Production for the April-November period now stands at 2.2 percent. Analysts expect the full year reading to be higher as both December and March quarters are strong months from an industrial output perspective.

Sectors which did well in November included manufacturing (3 percent vs -7.6 percent month-on-month), capital goods (6.5 percent vs -2.3 percent MoM), and basic goods (7 percent vs 5.8 percent MoM).
Mining sector grew 3.4 percent against 5.2 percent in October, and electricity grew 10 percent against 13.3 percent the month before.

Among laggards, consumer goods continued to show negative growth, though the pace of decline slowed to -2.2 percent from 18.6 percent. Consumer durables had another bad month with a negative growth of 14.5 percent, but still better than -35.2 percent in October. Consumer non-durables however recovered, growing 6 percent against -4.3 percent in October.

As for inflation, following is the break up:

Food inflation 4.78 percent Vs 3.14 percent (MoM)

Urban inflation 5.32 percent Vs 4.69 percent (MoM)

Rural inflation 4.71 percent Vs 4.09 percent (MoM)

Vegetable price inflation 0.58 percent Vs -10.9 percent (MoM)

Combined fuel, light inflation 3.41 percent Vs 3.27 percent (MoM)

Clothing, footwear, bedding inflation 6.51 percent Vs 6.97 percent (MoM)

Leave a Reply

x

Check Also

Rupee recovers 6 paise to 67.01

The rupee today recovered some lost ground by rising 6 paise to ...

Notes ban to have positive impact on economy

NEW DELHI: The government’s demonetisation move has led to widespread adoption of ...