The RBI Bulletin (December 2024) states that high-frequency indicators (HFIs) for October and November 2024 show a mixed picture regarding India's economic activity: A. October 2024: GDP Growth : The economic activity index shows a pick-up in momentum during October, suggesting that the slowdown in Q2 was bottoming out. Consumer Confidence : Consumer confidence indicators registered a sequential moderation. Amazon Supply Chain Pressures : Supply chain pressures remained below historical averages, showing some further easing. Inflation : Headline CPI inflation increased to 6.2 percent, exceeding the upper tolerance band, primarily driven by a sharp rise in food prices, although core inflation also increased. B. November 2024: GDP Growth : Headline CPI inflation moderated to 5.5 percent, driven by easing food prices, suggesting continued economic recovery. Strong festival activity and a sustained upswing in rural demand fueled this recovery. Consumer C...
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