However, the latest IIP data does not appear to reflect impact of demonetization.
The factory output, as per the Index of Industrial Production (IIP), declined by 1.81 per cent in October and a 3.4 per cent slide in the corresponding month of a year ago.
Factory output measured in terms of Index of Industrial Production (IIP) got a push in November 2016 due to better performance of manufacturing, mining and electricity sectors coupled with larger offtake of capital goods, considered a barometer of investment.
Similarly, electricity generation grew at 8.9 per cent in November compared to a meagre 0.7 per cent a year ago.
The annual consumer price inflation eased to 3.41 percent in December, its lowest level in more than two years, helped by a sharp cooling in food prices, government data showed on Thursday. The Rural CFPI was at 2.06% in December as against 2.79% in November and 6.41% in December 2015.
The report stated that the urban index rose by 20.12 per cent (year-on-year) in December from 20.07 per cent recorded in November, while the rural index increased by 17.20 per cent in December from 17.10 per cent in November. For urban sector, it was recorded at 2.90 per cent as against 3.05 per cent in the previous month.
Industrial production grew fastest in 13 month at 5.7 per cent in November, making it second official economic indicator within this week that showed that demonetisation may not have hit industrial activity too bad as was earlier feared.
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The prices of milk and milk-based products surged by 4.40 per cent.
Protein items meat and fish had inflation print of 4.79 per cent in December, as against 5.83 per cent in November.
Edible oils and fats prices increased by 2.86 per cent, whereas sugar and confectionery edged up by 21.06 per cent on a YoY basis.
On the flip side, it was as high as 7.15 per cent in Jammu and Kashmir, 6.00 per cent in Himachal Pradesh and 5.72 per cent in New Delhi.
Inflation rate moved from 9.55 percent in December 2015 to 18.55 by December 2016, defying predictions that put 2016 year-end inflation at 12 percent. It grew 15 percent in November 2016 from a (-) 24.4 percent contraction in November 2015, and a (-) 26.9 percent fall in October.
Commmenting on the data President of industry chamber Ficci Pankaj Patel said in a statement: "It is heartening to note that the growth is broad based and signals a positive jump in the manufacturing production".