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

13 October, 2017, 00:38 | Author: Regina Lloyd
  • Retail inflation eases to 3.28% in September

The Consumer Price Index (CPI) or retail inflation stood at 4.39 per cent in September 2016.

However, on a year-on-year (YoY) basis, the country's September retail inflation was lower than the 4.39 per cent CPI rate reported for the corresponding month of last year. The Index of Industrial Production (IIP) recorded 4 per cent growth in August previous year.

The rate of price in vegetables softened to 3.92 per cent (from 9.97 per cent in August).

Mining production showed a substantial jump of 9.4 percent in August from 4.8 percent in July.




The International Monetary Fund (IMF) on Tuesday also cut its growth forecast for the Indian economy by half a percentage point to 6.7% for 2017-18, blaming the lingering disruptions caused by demonetisation of high value currencies a year ago and the roll out of the GST. The primary goods output is at 7.1 per cent in August, against 2.3 per cent in July, the capital goods output is at 5.4 per cent in August, against -1 per cent in July. She added, "Encouragingly, the sequential improvement in industrial growth in August 2017 was broad-based, led by all three sectors (mining, manufacturing and electricity) and five of the six use-based industries (except infrastructure/construction goods)". At least 10 industry groups showed growth in manufacturing sector. The rate continues to be below 4 per cent, the mid-term target set by the Reserve Bank of India (RBI).

India's consumer price inflation numbers remained steady in September while industrial production rose favourably.

The Central Statistics Office (CSO) which released the data on Thursday also revised the July IIP from 1.2 percent to 0.94 percent.

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