Retail inflation eased to 2.33% in November, according to government data released on Wednesday. This is the lowest inflation rate since June 2017, when it was 1.46%. Retail inflation stood at 4.88% in November last year.
The Consumer Price Index-based inflation in October was revised upwards to 3.38% from 3.31%, according to the Central Statistics Office.
In rural areas, retail inflation stood at 1.71% in November. In urban areas, inflation was 3.12%. The Consumer Food Price Index was negative in rural and urban areas, with the combined decrease of 2.61%.
Prices of food and beverages reduced by 1.69%, while inflation of fuel prices stood at 7.39%, housing at 5.99%, and health at 7.16%. Prices of vegetables and pulses reduced 15.59% and 9.22%.
The country’s industrial output grew at an 11-month high of 8.1% in October on the growth of mining, power and manufacturing sectors, according to a statement released by Ministry of Statistics and Programme Implementation.
The manufacturing sector, which constitutes 77.63% of the index, recorded 7.9% growth, while mining sector posted 7% growth during the month. The power sector also grew by 10.8% in October. The capital goods sector witnessed a 16.8% growth in the month, up from 3.5% a year ago.
In terms of industries, 21 out of 23 industry groups in the manufacturing sector have shown positive growth in October. Manufacture of furniture posted the highest growth at 41%, while manufacture of paper and paper products posted a negative growth of 1.8%.