Chinmaya IAS Academy – Current Affairs Chinmaya IAS Academy – Current Affairs
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Retail inflation declined marginally to 2.05% in January over the previous month on continued decline in food prices, including vegetables and eggs, government data said on Tuesday. Retail inflation based on the Consumer Price Index (CPI) for December 2018 has also been revised downward to 2.11% from the earlier estimate of 2.19%. The inflation was 5.07% in January 2018. The data released by the Central Statistics Office further said the inflation in the ‘fuel and light’ category also fell to 2.2% in January this year from 4.54% in December 2018. The central bank has revised downwards the retail inflation forecast to 2.8% for the last quarter of the current fiscal on account of favourable factors including benign monsoon. Industrial growth Industrial output growth remained subdued at 2.4% in December 2018 on account of contraction in the mining segment and poor show by the manufacturing sector. Factory output as measured in terms of the Index of Industrial Production (IIP) had grown by 7.3% in December 2017, according to the data released by the Central Statistics Office (CSO) on Tuesday. During April-December 2018-19, industrial output grew at 4.6% against 3.7% in the same period of the previous fiscal.
