India September Consumer Price Inflation Unchanged at 3.28%

Industrial production has made a remarkable growth at 4.3% defying slowdown from previous month’s 1.2

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

Manufacturing sector, which accounts for more than three-fourth of the entire index, continued to growth at 3.1 percent in August, compared with 0.1 percent growth in July, government data showed.

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

Mumbai: Consumer inflation edged lower to 3.28 per cent for the month of September, driven by housing and fuel prices. In August, consumer inflation had risen to 3.36 per cent but it was later revised to 3.28 per cent.

The output of mining and electricity sectors during the month accelerated to 9.4 percent and 8.3 percent from (-) 4.3 percent and 2.1 percent respectively in August a year ago. The output of the mining and electricity sectors grew at 9.4 per cent and 8.3 per cent as compared to August 2016.

The factory output growth, measured on the Index of Industrial Production (IIP), for April-August period accelerated to 2.2 percent from 5.9 percent in the same period last fiscal, as per the data released by the Central Statistics Office on Thursday.

Analysts polled by Reuters had expected retail inflation to edge up to 3.60% last month from 3.36% in August.

But on a year-on-year basis, inflation in September however moderated. The drop in inflation could also raise demands for a rate cut now from the Reserve Bank of India that had kept the benchmark rates unchanged due to rising inflation trend.

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