On 12 December 2023, the National Statistical Office (NSO) in the Ministry of Statistics and Programme Implementation (MoSPI) released data of the Consumer Price Index (CPI) and of Index of Industrial Production (IIP).
While strong growth posted by the Manufacturing sector helped industrial growth surge to a 16-month high of 11.7 percent in October 2023, a spurt in food prices pushed retail inflation to a three-month high of 5.5 percent in November 2023.
For the month of October 2023, the Quick Estimates of Index of Industrial Production (IIP) with base 2011-12 stands at 144.7. The Indices of Industrial Production for the Mining, Manufacturing, and Electricity sectors for the month of October 2023 stand at 127.4, 141.8, and 203.8 respectively.
As per Use-based classification, the indices stand at 146.1 for Primary Goods, 106.9 for Capital Goods, 157.8 for Intermediate Goods, and 173.9 for Infrastructure/ Construction Goods for the month of October 2023. Further, the indices for Consumer durables and Consumer non-durables stand at 123.0 and 141.5 respectively for the month of October 2023.
Along with the Quick Estimates of IIP for the month of October 2023, the indices for September 2023 have undergone the first revision and those for July 2023 have undergone final revision in the light of the updated data received from the source agencies. The Quick Estimates for October 2023, the first revision for September 2023, and the final revision for July 2023 have been compiled at weighted response rates of 91 percent, 94 percent, and 96 percent respectively.
