India’s industrial production contracted 2.2 per cent in June, more-than-expected from a year earlier, government data showed on Monday.
Analysts polled by Reuters had expected output to shrink 1.2 per cent annually. May’s output growth was revised down to an annual 2.9 per cent contraction from 1.6 per cent earlier.
Manufacturing sector, which constitutes about 76 per cent of industrial production, shrank 2.2 per cent from a year earlier, the federal statistics office said.
Capital goods production, a barometer for investments in the economy, contracted an annual 6.6 per cent in June from a year earlier.
Consumer price inflation slows to 9.64 per cent in July
India’s annual consumer price inflation slowed in July to 9.64 per cent from 9.87 per cent in June, government data showed on Monday.
Food prices for consumers rose an annual 11.24 per cent in July, slower than an annual rise of 11.84 per cent in June.
Unlike most central banks, the Reserve Bank of India mainly uses the wholesale price index (WPI) for setting its monetary policy.