CPI Inflation at 3.28% in September; August IIP rises 4.3%

CPI Inflation at 3.28% in September; August IIP rises 4.3%

CPI Inflation at 3.28% in September; August IIP rises 4.3%

A Reuters poll of economists which had projected inflation at 3.60 per cent.

The YoY CPI dropped to 3.44 per cent in urban areas and 3.15 per cent in rural areas in September as compared to 3.64 per cent and 5.04 per cent respectively in the corresponding period past year.

RBI in its policy review meet on 4 October, kept benchmark interest rate unchanged on fears of rising inflation while lowering growth forecast to 6.7% for the current fiscal.

Industrial production (IIP) rose to 4.3 per cent in August, up from July's 1.2 percent growth.

Food and beverages during the month under consideration recorded a rise of 1.76 per cent over the same month previous year.

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IIP growth during April-August period of this fiscal stood at 2.2 per cent, down from 5.9 per cent in the same period in 2016-17.

India's industrial growth and inflation may trend up as key metrics such as index of industrial production (IIP), consumer price index (CPI) and wholesale price index (WPI) are expected to come in higher, driven by a waning goods and services tax (GST) impact and higher commodity rates, says a Morgan Stanley report.

The government today revised July's factory output growth to 0.9 percent in July, as compared with an earlier estimate of 1.2 percent.

Electricity production increased 8.3 percent in August as compared with 2.1 percent a year ago. In the month of August 2016, it was 4%.

The consumer durables and consumer non-durables sectors recorded growth of 1.6 per cent and 6.9 per cent, respectively. "However, 13 of the 23 sub-sectors of manufacturing with a weight of 27% in the IIP, recorded a contraction in August 2017".

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