Massive jump in IIP numbers, factory output growth expands to 8.4% in November
The CPI inflation, which has been rising for two consecutive month in November, was also higher than market expectations for the third time.
Factory output growth expanded to 8.4 per cent in the month of November. At 8.4 per cent, IIP witnessed the biggest jump in two years.
Factory output growth in October was at 2.2% while CPI was at 5.2 per cent from 4.88 per cent a month ago.
These numbers hold importance as it is the final data that the Finnace Ministry will take into consideration before the Budget of FY18.
The CPI inflation, which has been rising for two consecutive month in November, was also higher than market expectations for the third time. The latest uptick was mostly led by a sharp rise in vegetables inflation, which shot up to a four-year high of 22.5% in Nov’2017 from 7.5% in the preceding month. Vegetables contributed 90 basis point to the month-on-month (MoM) rise in the headline inflation number.