Inflation soars to 6 month high, Industrial output slugging

India's retail inflation touched a six-month high in December 2021. The consumer price index or CPI-based inflation rose to 5.59%, as compared to 4.91% in the previous month. 

Soaring edible oil prices contributed the most to the higher inflation levels as the government data shows its price rising over 24% in the month under review. The overall food inflation soared to 4.05% against 1.87% in November even as vegetable prices eased a little as it saw a deflation of 2.99%.

The county’s factory output, measured in as the Index of Industrial Production (IIP), witnessed a growth of 1.4% in November 2021 much lower than the anticipated 3.5% growth that was forecasted by economists.