Industrial production eases, retail inflation rises to 6 per cent – Navshakti

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Industrial production eased, while retail inflation stood at six per cent

IIP rose 29 per cent in May, retail inflation rose to 6.26 per cent in June

New Delhi: India’s industrial production index rose 29.3 per cent in May, according to official data released today. In May 2020, the IIP deficit had declined by 33.4 per cent. The National Statistics Office (NSO) today released the May 2021 Index of Industrial Production (IIP).

The manufacturing sector grew by 34.5 per cent, followed by mining by 23.3 per cent and power generation by 7.5 per cent. Industrial production fell by 33.4 per cent in May last year, mainly due to the first wave of corona since March. After the first wave of corona, the IIP fell by 18.7 per cent in March 2020 and by 57.3 per cent in April due to the blockade imposed to control the number of patients. The IIP had increased by 5.2 per cent in February last year.

Retail inflation stood at 6.26 per cent in June, as against 6.3 per cent in the previous month, according to official data released today.

According to data released by the National Bureau of Statistics (NSO) today, foodgrain prices stood at 5.15 per cent in June as against 5.01 per cent in May.

The Consumer Price Index (CPI), based on inflation, did not rise sharply in June, but for the second month in a row, it remained above the level set by the Reserve Bank of India.

The central government has directed the Reserve Bank to keep the retail inflation rate at four per cent and above or minus two per cent.

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