December CPI falls to 4.59%; November IIP disappoints at -1.9%

The Consumer Price Index (CPI) declined to 4.59 percent in December from 6.93 percent in November, according to the data released by the Ministry of Statistics & Programme Implementation (MoSPI).

It is for the first time during the current fiscal that the CPI-based inflation print is below 6 percent or in the RBI's target range of 2 to 6 percent.

Industrial production contracted by 1.9 per cent in November, entering the negative territory after a two-month gap, mainly due to poor showing by the manufacturing and mining sectors, official data showed.