India’s Economic Overview: December Data Highlights
1. CPI Trends:
– In December, India’s Consumer Price Index (YoY) rose to 5.69%, indicating a slight uptick from the previous 5.55% and just below the estimated 5.88%.
– Core consumer price-based inflation for the same period ranged from 3.8% to 3.89%.
2. Government Data Release:
– On January 12, the Indian government unveiled the consumer price index data for December, disclosing a four-month high in consumer inflation at 5.69%, according to the Ministry of Statistics and Programme Implementation.
3. Financial Indicators:
– India’s foreign exchange reserves stand at $617.30 billion, a decrease from the previous $623.20 billion.
– The current bank loan growth rate is 19.9%, slightly lower than the previous 20.2%.
– Deposit growth in India has decreased to 13.2% from the previous 14.0%.
4. Industrial Production:
– India’s industrial production (YoY) for November registered at 2.4%, a notable decline from the previous 11.7% and falling short of the estimated 3.5%.
– Cumulative industrial production for November decreased slightly to 6.40% from the previous 6.90%.
– Manufacturing output (MoM) in India for November reported at 1.2%, significantly lower than the preceding 10.4%.
