Retail inflation declined during December 2020.
According to data released by the central government, in December 2020, food inflation declined to 3.41 percent. In November 2020, this rate was 9.5 percent. Apart from this, the manufacturing sector output decreased to 1.7 percent in November and the mining output to 7.3 percent.
- January 12, 2021, 6:51 PM IST
Retail inflation comes down due to decrease in food prices
Retail inflation in October reached the highest level since May 2014. In October, the retail inflation was at 7.61 percent. According to the central government, a decrease in retail inflation has been recorded due to a decrease in food items prices. Food inflation fell to 3.41 per cent in December 2020, from 9.5 per cent in November 2020. Explain that the Reserve Bank takes into account the retail inflation rate in deciding monetary policy.
read this also- Gold Price Today: Gold Price Increases Today, Silver Costs More Than Rs 1400, See New PricesIndustrial production, mining sector recorded decline
According to the Central Government data, industrial production declined during November 2020 and IIP remained at 1.9 per cent. At the same time, this figure was 2.1 percent in November and 4.2 percent in October. The decline in industrial production was due to shortage in mining and construction sector. The manufacturing sector declined by 1.7 per cent during this period, from 3 per cent in the same period a year ago. At the same time, the mining sector declined by 7.3 percent during November 2020. However, during this period, energy production registered a growth of 3.5 percent.