Retail Inflation For January Cools To 2.05%, IIP Recovers

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Retail inflation measured by consumer price inflation index (CPI) for the month of January came in lower at 2.05% due to continuing deflation observed in food items as well as decline in fuel inflation.

Retail Inflation For January Cools To 2.05%, IIP Recovers

IIP or Index for Industrial Production of India for December month gained ground and recovered to 2.4% versus 0.5% in November 2018. The recovery came in on the back of sharp surge in manufacturing index from -0.4% to 2.7% in December month.

Inflation for the sixth consecutive month has stood below the medium term target of the central bank of 4%. For the December month, CPI figure has been revised to 2.11% against the earlier notified figure of 2.19%.

In line, core inflation also declined from 5.7% for December to 5.4% in January, thus providing some relief in respect of stickiness in non-fuel and non-food inflation.

RBI in its monetary policy review last week revised the trajectory of inflation downwards to 2.8% in the last quarter of current FY, 3.2-3.4% for the H1FY 20 and 3.9% for the third quarter of FY20.

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