A steady and rising industrial output is key to an overall pick-up in economic growth Says Mr. Nish Bhatt, Millwood Kane International
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Below is Perspective on CPI and IIP data by Mr. Nish Bhatt, Founder & CEO, Millwood Kane International
November CPI at an 11-month low
October IIP near a 26-month low
The CPI data print is a pleasant surprise, at 5.88% it has slipped below the RBI's mandated range after 10 months. Dip in food and vegetable prices are the primary reasons for the softness in inflation. The core inflation remains elevated though. The critical thing to watch out for will be the durability of this trend for the RBI to soften its stance in the fight against inflation.
The IIP, on the other hand, was a disappointment, the industrial output in October contracted despite it being a festive season. The contraction in the consumer durable and non-durables index is a cause of worry. The IIP has also been non-consistent over the past few months. A steady and rising industrial output is key to an overall pick-up in economic growth.
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