India’s retail inflation rises marginally to 6.07% in Feb

India’s retail inflation rose marginally in February, staying above the upper limit of RBI’s tolerance band, showed government data on Monday.

Inflation, as measured by the consumer price index (CPI), rose to 6.07% in February on an annual basis, from 6.01% in January and 5.03% in February 2021.

Asia’s third-largest economy expanded 5.4% in the October-December quarter, slower than the 6% predicted by economists in a separate Reuters poll.

Focusing on growth, not inflation, the Reserve Bank of India has held its interest rates steady at record lows for nearly two years but is due to increase borrowing costs next quarter.

Industrial production expanded by 1.3% in January on an annual basis, mainly on account of improved performance of mining and manufacturing sectors, official data showed on Friday.

The Index of Industrial Production (IIP) had contracted by 0.6 per cent in January 2021.

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