Industrial growth at 9-mth high;inflation stays flat at 3.28pc

Ivan Schwartz
October 13, 2017

The consumer price index climbed 3.28 percent year-on-year, same as in August, which was revised from 3.36 percent.

According to official data, India's retail inflation had swelled to a five-month high of 3.36% in August on costlier vegetables and fruits.

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.

The Reserve Bank of India had raised its inflation projection to 4.2-4.6 per cent for the second half of the current fiscal due to firming global oil prices and uncertainty on kharif farm output.

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

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

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The August electricity sector output is at 8.3 per cent, against 6.5 per cent in July.

The August mining sector output is at 9.4 per cent against 4.8 per cent in July, while the manufacturing sector output is at 3.1 per cent, against 0.1 per cent in July.New Delhi: The green shoots of recovery are visible in the Indian economy as the just disclosed September Consumer Price Index (CPI) data has shown.

In terms of industries, 10 out of 23 industry groups in the manufacturing sector showed positive growth during August 2017.

Primary goods' production grew sharply at 7.1 percent in August as compared with 2.3 percent jump last month.

The IIP growth in July was revised to 0.94% from 1.2% in the provisional estimates released last month. "This is a good sign that notwithstanding the expected increase in prices of some food products, rentals/housing, transport and clothing, inflation has remained low".

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