Good News: India’s annual inflation rate fell to 4.31% in Jan (vs 5.22% in Dec 2024). The USA’s inflation rate rose to 3% in Jan (vs 2.9% in Dec). Core inflation (excludes food and fuel) rose to 3.3% (vs 3.2%). India’s industrial production rose 3.2% year-on-year in Dec (vs 5% in Nov). Manufacturing rose 3% (vs 5.5%), electricity rose 6.2% (vs 4.4%), and mining rose 2.6% (vs 1.9%): MoSPI.