The manufacturing sector saw a significant decline in growth in November 2023, with electricity output and mining also slowing down. Only six categories within manufacturing recorded expansion, while others experienced contraction.
The rate of inflation, based on the monthly wholesale price index (WPI), stood at 13.56 per cent for December 2021, compared to 1.9 per cent in the corresponding month of 2020, government data showed on Friday, January 14. Along with this, retail inflation also rose to 5.59 per cent in December, tracking a sharp rise in food prices. The next WPI inflation data will be released after Budget 2022 - scheduled to be presented on February 1.
The wholesale price-based inflation bucked the 4-month rising trend in December 2021, and eased to 13.56 per cent, mainly on account of softening in fuel, power and manufacturing items even though food prices hardened.
Higher telecommunications charges, along with a comparatively low base one year ago, likely drove Indian retail inflation to a six-month high in December, a Reuters poll found, keeping alive expectations for an interest rate rise by mid-year.