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

Retail inflation eases to 3.28% in September

A man buys lemons at a market in Ahmedabad

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.

India's industrial production growth hit a nine-month high of 4.3% in August, according to data published by the Central Statistical Organisation (CSO) on October 12. A Reuters poll of economists which had projected inflation at 3.60 per cent. However, the with August's industrial production at 4.3%, it is inching towards 4.5% growth in July past year.

The National Bank of Romania (BNR) revised at the beginning of August the inflation forecast for the end of this year to 1.9 pct, given that it had previously estimated a 1.6 pct inflation rate, down 0.1 percentage points.

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As per use-based classification, the growth rates in August 2017 over August 2016 are 7.1 per cent in primary goods, 5.4 per cent in capital goods, (-) 0.2 per cent in intermediate goods and 2.5 per cent in infrastructure/ construction goods.

The Index of Industrial Production (IIP) had registered a tepid growth of 1.2 per cent in July this year.

Meanwhile, retail inflation recorded at 3.28 percent in September.

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It is a twin bonanza for the economy as the Consumer Price Index (CPI) for September has gone down and the industrial production for July has made a remarkable growth defying slowdown from the previous month. The rate continues to be below 4 per cent, the mid-term target set by the Reserve Bank of India (RBI).

It was 3.36 percent in the previous month.

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