New Delhi: In the month of February, the common man has suffered a major setback of Inflation. In fact, retail inflation reached 5.03 percent in February. Food and drink items and fuel inflation has seen the biggest increase. Earlier in January, retail inflation was 4.06 percent, which was the lowest level after October 2020. At the same time, industrial production declined by 1.6 percent in January.
The RBI keeps a special watch on retail inflation in the determination of bank rates. RBI has been targeted to limit CPI inflation to 4% (+, – 2%).
In February, the retail inflation of vegetables was at -6.25 per cent, which was at -15.84 per cent in January. Fuel and light inflation in February has come down from 3.87 percent in January to 3.53 percent. At the same time, the retail inflation of housing has come down marginally from 3.25 percent in January to 3.23 percent. Inflation in clothing and footwear in February has increased to 4.21 per cent from 3.82 per cent in January. At the same time, the inflation rate of pulses has come down from 13.39 per cent in January to 12.54 per cent in February. In February, the core CPI has gone up from 5.7 per cent in January to 5.8 per cent.
1.6% drop in industrial production in January
At the same time, India’s industrial production declined by 1.6 percent in January. According to the Index of Industrial Production (IIP) data released on Friday, manufacturing in the manufacturing sector declined by 2 percent in January 2021. At the same time, mining production has decreased by 3.7 percent in the month under review. While electricity generation has increased by 5.5 percent.
