Double jolt for Indian Economy, IIP slides, WPI Inflation rises

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NewDelhi : In a double jolt to the economy CPI Inflation for the month of June rose to 5%, while the Index of Industrial production ( IIP) growth in May slumped to a low of 3.2%. The retail inflation based on Consumer Price Index (CPI) was 4.87 per cent in May. It was 1.46 per cent in June 2017. The earlier high was in January this year at 5.07 per cent. As per the data released by the Central Statistics Office (CSO), the inflation in the food basket was 2.91 per cent, compared to 3.1 per cent in May.

The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of May 2018 stand at 107.5, 129.1 and 164.7 respectively, with the corresponding growth rates of 5.7 percent, 2.8 percent and 4.2 percent as compared to May 2017 (Statement I). The cumulative growth in these three sectors during April-May 2018 over the corresponding period of 2017 has been 4.9 percent, 4.0 percent and 3.1 percent respectively.

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