Inflation chills rate hopes; IIP recovers
Mint Mumbai|November 13, 2024
At 6.21%, retail inflation crosses all estimates; factory output up
Rhik Kundu & Nikita Prasad

Hopes of a December rate cut died on Tuesday as retail inflation shot to a 14-month high, even as the economy consoled itself with a sequential recovery in industrial production.

Retail inflation based on the consumer price index (CPI) hit 6.21% in October, statistics ministry data showed, days after Reserve Bank of India governor Shaktikanta Das cautioned that the month's reading could be "very high". This is the highest since 6.83% in August 2023, and compares to 5.49% in September.

Meanwhile, factory output as measured by the index of industrial production (IIP) rose 3.1% year-on-year (y-o-y) in September, fuelled by growth in manufacturing, the statistics ministry data showed.

While that is a rebound from the 0.1% contraction seen in August, it is still lower than the industrial output reported during nine of the past 12 months.

The rise in inflation, driven by surging food prices, also breached the RBI's medium-term target of 2-6% for the first time in over a year.

Esta historia es de la edición November 13, 2024 de Mint Mumbai.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.

Esta historia es de la edición November 13, 2024 de Mint Mumbai.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.

MÁS HISTORIAS DE MINT MUMBAIVer todo
World Bank calls for reforming skills training in India
Mint Mumbai

World Bank calls for reforming skills training in India

India must make a coordinated effort to reform and rebrand vocational skill training, besides aligning education with the job market, to leverage its demographic advantage to meet the $5-trillion target for its economy, the World Bank said.

time-read
2 minutos  |
November 23, 2024
Mint Mumbai

FCPA cases take long to conclude after indictment

For investors keen to know the fate of billionaire Gautam Adani's indictment by US authorities, the watchword is patience.

time-read
2 minutos  |
November 23, 2024
Short-covering, relief rally add ₹7.27 trillion wealth
Mint Mumbai

Short-covering, relief rally add ₹7.27 trillion wealth

Markets up 2.39% to hit the highest in six months, a day after Adani's indictment

time-read
2 minutos  |
November 23, 2024
Wetter monsoon slows pace of adding new transmission lines
Mint Mumbai

Wetter monsoon slows pace of adding new transmission lines

India's addition of new power transmission lines fell by half over a year earlier in the April-October period as a wetter-than-usual monsoon slowed work.

time-read
2 minutos  |
November 23, 2024
COP29's $1.3 tn fund plan disappoints Global South
Mint Mumbai

COP29's $1.3 tn fund plan disappoints Global South

The 29th edition of the UN climate change conference in Azerbaijan emerged from a deadlock with an annual climate finance goal of $1.3 trillion for developing countries, much to the disappointment of the Global South.

time-read
3 minutos  |
November 23, 2024
Jaguar rebrand is pink, diverse and doesn't feature any cars
Mint Mumbai

Jaguar rebrand is pink, diverse and doesn't feature any cars

Luxury automaker Jaguar is betting that a colorful and youthful rebrand will help it successfully launch fully into the electric-cars market.

time-read
3 minutos  |
November 23, 2024
Mint Mumbai

Services up as manufacturing slows in Nov

The HSBC Flash India Services PMI was at 59.2 in Nov from 58.5 in Oct; manufacturing PMI fell slightly from 60.4 to 60.2

time-read
1 min  |
November 23, 2024
MSMED may protect medium firms too
Mint Mumbai

MSMED may protect medium firms too

The Centre may consider including medium enterprises for the protection granted under MSME Development (MSMED) Act, 2006, to resolve payment disputes.

time-read
1 min  |
November 23, 2024
Europe boosts Indian textile exports in FY25
Mint Mumbai

Europe boosts Indian textile exports in FY25

Demand for Indian handloom, apparel partly fuelled by Bangladesh crisis

time-read
2 minutos  |
November 23, 2024
Mint Mumbai

RBI nudges banks to cut speculative bet in rupee

The Indian central bank, in a rare move, instructed some banks to cut their long positions on the dollar-rupee pair on Friday, seeking to curb speculative positions with the currency at a record low, four bankers familiar with the development told Reuters.

time-read
1 min  |
November 23, 2024