PR No – 18
13th December, 2023
New Delhi
Vegetables, and Fruits stoke CPI Inflation in November, Double digit IIP Growth impressive: PHD Chamber
Fruits, and vegetables, stoked food and beverages inflation from 6.2% in October 2023 to 8.0% in November 2023 because of supply disruption in the fruits and vegetables, said Industry body PHD Chamber of Commerce and Industry, in a press statement issued here today.
Food and beverages stoked overall CPI inflation from 4.8% in October 2023 to 5.5% in November 2023, said Industry body PHD Chamber of Commerce and Industry.
Prices of food products have been significantly volatile since the last many quarters which are escalating the inflationary pressures again and again, said Mr. Sanjeev Agrawal, President, PHD Chamber of Commerce and Industry in a press statement issued here today.
At this juncture smooth supply of fruits and vegetables will address the price volatility and soften the overall inflation trajectory in the coming months, said Mr. Agrawal.
However, we appreciate the double-digit growth of IIP at 11.7% in October 2023, supported by 13.1% growth in mining, 10.4% growth in manufacturing, and 20.4% growth in electricity, said Mr. Agrawal.
The Index of Industrial Production (IIP) experienced a growth of 11.7% in October 2023, marking the highest increase in the last 15 months. Going ahead, we expect great manufacturing growth in the coming times, said Mr. Agrawal.
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Warm Regards,
Media Division
PHD Chamber of Commerce and Industry