In a sweet and sour mix, the Central Statistics Office (CSO) Friday released data that showed a heartening fall in inflation but also a worrying slow-down in industrial activity.
The CSO data released Friday showed that while on the one hand India's industrial activity fell drastically in October by 4.2 percent, retail inflation eased in November by 4.38 percent.
According to CSO, which released both the data, industrial activity measured in terms of the Index of Industrial Production (IIP), registered a negative 4.2 percent growth during October.
Consumer price index-based inflation, meanwhile, eased to a record low of 4.38 percent during November -- from 11.16 percent during the corresponding month last year -- on the back of lower food prices.
The retail inflation rate recorded is the lowest since India started computing consumer price index (CPI) in January 2012. The retail inflation eased for the fourth straight month in November.
The retail inflation stood at 5.52 percent in October 2014.
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The urban inflation in November stood at 4.69 percent and the rural inflation at 4.09 percent.
Consumer food price inflation eased to 3.14 percent in November from 5.59 percent in October.
Meanwhile, there was massive decline in October IIP which was down 4.2 percent from a 1.2 percent decline in growth during the corresponding month of the previous year.
The CSO data showed that IIP had increased by 2.5 percent in September 2014. In August 2014, the industrial growth stood at 0.4 percent. While, in July it had grown by 0.5 percent and increased by 3.9 percent in June.
The cumulative growth for April-October 2014-15 stood at 1.9 percent while the figure for the corresponding period of the previous year stood at 0.2 percent.