The latest sets of data on industrial output and retail inflation are beguilingly heartening, with the former showing a double-digit year-on-year increase in production, and the latter positing a sharp slowdown in price gains. The Index of Industrial Production (IIP) and Consumer Price Index (CPI) figures released on Tuesday show industrial output rose 11.9% in August, while inflation in September slowed by 95 basis points from the preceding month to 4.35%. The numbers seem to indicate a gathering recovery in economic momentum, even as CPI-based inflation eases towards the RBI’s mandated target of 4%. (Read More)
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