Consumer inflation in January stood at the highest rate recorded since May 2014, official data showed
Consumer inflation came in at 7.59 per cent in January - the highest rate recorded since 8.33 per cent in May 2014, government data showed on Thursday. Separate data showed that factory output - gauged by the Index of Industrial Production (IIP) - contracted 0.3 per cent in December, following its first rise in three months in November. Soaring inflation, much higher than the RBI's medium-term target of 4 per cent, and the unexpected contraction in industrial production signals more bad news for the economy, which is staring at its worst pace of annual expansion in more than 11 years, say economists.
