Industrial production in India grew 1.2% in May, as compared to 2.5% in the corresponding month last year, PTI reported. The latest Index of Industrial Production figure marked an improvement from what it was in April, when it shrank by 0.8%, following modest improvements in March (2%) and February (0.3%) over the same months last year.

Consumer Price Index, which measures retail inflation in India, saw a minor jump to 5.77% in May from 5.6% in April. The rise in retail inflation lowers the possibility of the Reserve Bank of India bringing down interest rates in its next policy review in August. In its June monetary policy review, the apex bank had raised concerns over rising inflation, though it left policy rates unchanged.