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Updated Jan 12, 2021 | 18:01 IST Index of Industrial Production (IIP) contracted sharply by 1.9% in November 2020 as against growth of 3.6% in October 2020 and growth of 2.1% in November 2019 Retail inflation eases to 4.59% in December; IIP contracts sharply by 1.9% in November New Delhi: Retail inflation eased to 4.59% in December 2020. According to data released by the Ministry of Statistics and Program Implementation on Tuesday, Consumer Price Index inflation eased in December compared to 6.93% in November. Note that the rise in prices in October had been the sharpest since May 2014 when the inflation peaked to 7.61%. Inflation in India has continuously been above the Reserve Bank s upper tolerance band of 6% for the past eight months till November 2020. CPI inflation peaked in October to 7.61% and then fell to 6.93% in November. Retail inflation in the country showed signs of easing in December, led by easing prices of some food item ....
Updated Dec 28, 2020 | 22:23 IST The paper authored by Harendra Kumar Behera and Deputy Governor Michael Debabrata Patra finds a steady decline in trend inflation to 4.1-4.3% since 2014, until just before the pandemic. Representational Image | Photo Credit: IANS Key Highlights A target set too below the trend imparts a deflationary bias to monetary policy, said the paper A target that is fixed above trend renders monetary policy too expansionary and prone to inflationary shocks and unanchored expectation, it further added. India s inflation target is set for review in March 2021 The Reserve Bank of India on Monday issued a working paper on measuring trend inflation in India which is authored by Harendra Kumar Behera and Deputy Governor Michael Debabrata Patra. Released ahead of the review of the inflation target in March 2021, the paper argues that maintaining the inflation target at 4% is appropriate for India. ....