Mixed signals: Factory output makes massive jump to 25-month high at 8.4% but CPI disappoints
Two macroeconomic data on Friday gave mixed signals for the economy as the factory output (IIP) surprised everyone with a massive jump of 8.4% in November as compared to 2.2% in October, but CPI disappointed at 5.21%
By: FE Online | Updated: January 12, 2018 6:16 PM
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Two macroeconomic data on Friday gave mixed signals for the economy as the factory output (IIP) surprised everyone with a massive jump to a 25-month high of 8.4% in November as compared to 2.2% in October, while the Consumer Price Index, however, accelerated to a 17-month-high of 5.21% in December from November’s 4.88%, in sink with the worries expressed by the Reserve Bank of India.
The industrial output grew 8.4% in November from a year earlier, government data showed on Friday. Economists surveyed by Reuters had forecast 4.4% growth in output compared with a downwardly revised 2% year-on-year increase in October.
India’s annual retail inflation accelerated in December to a 17-month high of 5.21%, government data showed on Friday, mainly driven by faster rises in prices of food and fuel products. Analysts polled by Reuters had forecast December’s CPI inflation to rise to 5.10% from November’s 4.88%. As per the data released by the Central Statistics Office (CSO), inflation for the food basket increased to 4.96% in December from 4.42% in the preceding month.
The data revealed that eggs, vegetables and fruits became costlier, while inflation moderated in case of cereals and
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