• UGI USER
  • Feb 14, 2024
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RETAIL INFLATION AT 3-MONTH LOW

Why in the news?

Retail inflation in January dropped to a three-month low of 5.1%, primarily due to lower food prices compared to December, according to data from the National Statistical Office.

source:TOI

According to data from the National Statistical Office:

  • Factory output, measured by the Index of Industrial Production (IIP), rose to 3.8% in December, up from 2.4% in the previous month.
  • Core inflation, excluding food and fuel, fell to a 50-month low of 3.6% in January, indicating the effectiveness of RBI’s monetary policy.
  • Food inflation dropped to 8.3% in January from 9.53% in December, with moderation observed in both urban and rural areas.
  • However, elevated food inflation remains a concern, impacting overall inflation trends and economic outlook.
About National Statistical Commission (NSC)

●    Formation: Established in January 2000, the National Statistical Commission (NSC) of India is an autonomous body.

●    Recommendation: Its formation was recommended by the RangarajanCommission.

●    Leadership: Currently chaired by Prof.RajeevaLaxmanKarandikar.

●    Affiliation: Operates under the Ministry of Statistics and Programme Implementation.

●    Headquarters: Based in New Delhi.

●    Role: Advises the government on statistical matters and promotes statistical development.

●    Collaboration: Works closely with entities like the National Sample Survey Office and the Central Statistics Office.

Objective: Ensures data quality and facilitates effective decision-making through accurate statistics.