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January retail inflation hits 6-year high, IIP contracts

Feb 12, 2020 18:29 IST

Retail inflation inched up to 7.59% in January on costlier food items, according to govt data released on Wednesday. The Consumer Price Index-based retail inflation was 7.35% in December 2019 and 1.97% in January last year. The food inflation in January was 13.63%, compared with (-)2.24 per cent in January 2019. However, it is down from 14.19% in December. Industrial production contracted to 0.3%in December 2019 against 2.5% in the same month a year. The Reserve Bank of India had kept the key policy rate unchanged earlier this month mainly due to high inflation.

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