In June 2023, an increase has been registered in CPI based retail inflation. CPE retail inflation has reached a three-month high.
According to data released by the Ministry of Statistics, CPI inflation reached 4.81 per cent in June as against 4.31 per cent in May.
In June, urban inflation increased from 4.33% to 4.96% while rural inflation increased from 4.23% to 4.72%. Food inflation increased from 2.96% to 4.49% this month.
The major reason for the increase in retail inflation this time has been the increase in the prices of vegetables. In the case of vegetables too, retail inflation has increased this time.
The inflation rate of vegetables has increased from -8.18% to -0.93% on a monthly basis.
On the other hand, power fuel inflation has registered a decline and has come down from 4.64% to 3.92% in June as compared to the month of May. The housing sector retail inflation declined from 4.84% to 4.56%.
India’s Index of Industrial Production (IIP) grew by 5.2 per cent on an annual basis in May 2023, up from 4.5 per cent in April and 1.1 per cent in March 2023, according to data provided by the Ministry of Statistics and Program Implementation on Wednesday.
Factory output, measured in terms of IIP, grew by 19.7 per cent in May 2022. The data shows that the index grew by 4.8 per cent between April-May.
Manufacturing sector output grew 5.7 percent year-on-year in May from 4.9 percent in April.
Meanwhile, electricity generation grew by 0.9 per cent, as against a decline of 1.1 per cent in April