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emfizz.com December 14, 2017


Retail inflation eases to 3.28% in September

13 October 2017, 12:33 | Jan Cross

Retail inflation eases to 3.28% in September

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

Additionally, the Consumer Food Price Index (CFPI) for all India Rural, Urban and Combined stood at 1.25% compared to 1.52% of August 2017 and 3.96% of September 2016.

India's consumer price inflation held steady in September, defying expectations for an acceleration, preliminary data from the Central Statistics Office showed Thursday.

The Reserve Bank of India (RBI) while keeping the policy rates unchanged in its latest monetary policy review last week, marginally increased the inflation outlook to 4.2-4.6% for the second half (October-March) of the financial year. The previous high in IIP growth was recorded at 5.1 per cent in November 2016.

Looking at the growth of industries in manufacturing sector, at least 10 out of the 23 industry groups in the manufacturing sector have shown an uptick in growth for August. "A rate cut of 25 bps can be expected in Q4 provided inflation remains below 4%".

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The recovery in industrial output is a clear indication that the companies have begun restocking and building fresh inventories after clearing up the stockpile in June ahead of the Goods and Services Tax's (GST's) roll out from July 1.

Industrial output growth was revised to 0.9 per cent year-on-year in July.

IIP growth slowed down to 2.2% during April-August this fiscal from 5.9% in the corresponding period last fiscal. 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)".

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.



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