November IIP rises to 26-month high of 8.4%

Factory output saw a big 2-year jump in November at 8.4% vs 2.2% in October while CPI crossed the 5% mark at 5.2% from 4.88% a month ago. These are the final set of data that finance minister Arun Jaitley will have as he sits down to finalize the 2018 Budget. According to Bloomberg analysts' estimate, IIP was expected at 4% in November. Meanwhile, data showed that retail inflation has jumped to 5.21 per cent in December on rise in prices of food items, egg and vegetables, dashing hopes of interest rate cut in the near future. The retail inflation, based on Consumer Price Index (CPI), was 4.88 per cent in November. In December 2015, it was 3.41 per cent.

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