CPI rises 3.28% in September; August IIP jumps 4.3%

India's factory output grows sharply at 4.3% in August

The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of August 2017 stand at 92.7, 123.3 and 155.4 respectively, with the corresponding growth rates of 9.4%, 3.% and 8.3% as compared to August 2016.

Meanwhile, beating expectations retail inflation remained flat at 3.28% in September, following the August numbers being revised to 3.28% from the earlier projected 3.36%. Retail inflation stood at 4.31 per cent in September, 2016.

The worrying factor, however was manufacturing sector growth, which decelerated to 3.1 per cent in August from 5.5 per cent a year ago.

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

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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.

The IIP growth in July was revised to 0.94% from 1.2% in the provisional estimates released last month. According to preliminary data released by the Central Statistics Office on Thursday, the consumer price index (CPI) increased 3.28 per cent year on year against the August numbers of 3.36 per cent. The cumulative growth for the period April-August 2017 over the corresponding period of the previous year stands at 2.2 percent.

Factory output measured by the index of industrial production (IIP) is the closest approximation for measuring economic activity in the country's business landscape.

Food price inflation that measures kitchen costs, remained soft at 1.76 per cent. Vegetables prices grew at 3.92 per cent in September as compared to 6.1 per cent in August.

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