Industrial growth slows to 3.8% in Jan

NEW DELHI: Retail inflation remained unchanged in Feb however meals and drinks costs inched up, whereas non-food gadgets eased throughout the month. Separate information confirmed industrial output development moderated in Jan from Dec’s upwardly revised quantity.
Knowledge launched by the Nationwide Statistical Workplace (NSO) on Tuesday confirmed retail inflation remained unchanged at 5.1% in Feb however beneath the 6.4% recorded in Feb final yr. Rural inflation was larger at 5.3% whereas city was at 4.8%.
Inflation in meat and fish (5.2%), eggs (10.7%), greens (30.3%) and pulses & merchandise (18.9%) shot up throughout the month with meals and drinks inflation remaining above 7% for the fourth consecutive month.

“Inflation within the miscellaneous group cooled off to a 51-month low of three.6% in Feb 2024, amid a broad-based dip throughout all of the six sub-categories, whereas that for housing and clothes and footwear additionally eased to multi-month lows in that month, serving to to average the core-CPI inflation,” mentioned Aditi Nayar, chief economist at rankings company ICRA.
Nayar mentioned the upward revision within the NSO’s GDP development estimates for Q1-Q2 FY24, together with three successive quarters of 8% plus GDP growth, and the CPI print of 5.1% for Feb 2024, suggests established order on rates of interest and the RBI’s stance in April.
Separate information launched by the NSO confirmed industrial output development rose an annual 3.8% in Jan, decrease than the upwardly revised 4.2% in Dec and beneath the 5.8% posted in Jan final yr.
The important thing manufacturing sector grew by 3.2% in Jan, slower than the earlier yr’s 4.5%. Mining and electrical energy sectors additionally remained sluggish. The capital items sector grew by 4.1% in Jan, slower than the ten.5% posted final yr.