In March, India’s retail inflation rate increased to 6.95% from 6.07% in the previous month, keeping beyond the central bank’s level of tolerance for the third month in a row. According to data provided by the National Statistical Office on Tuesday, cooking oils (18.79%), vegetables (11.64%), fish and meat (9.63%), shoes and clothes (9.4%), and energy and electricity (7.52%) led the way in rising retail inflation.
Meanwhile, the NSO’s indicator of industrial production (IIP) statistics revealed that factory output increased by 1.7 percent year over year in February. Nevertheless, the IIP growth rate fell by 4.7 percent consecutively, indicating that the economic recovery is still fragile.
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