Retail inflation at 3.28% in September

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

Inflation rose to 2.36 percent in July, after consistently falling for three straight months.

The September CPI stands at 3.28 per cent, against 3.23 per cent registered in August, CPI rural inflation is at 3.15 percent against 3.22 percent in August, CPI urban inflation stands at 3.44 percent against 3.35 percent in August, CPI core inflation is at 4.6 percent against 4.5 percent posted in August.

Mumbai: Consumer inflation edged lower to 3.28 per cent for the month of September, driven by housing and fuel prices.

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 previous year.

Both the Asian Development Bank as well as the Organisation for Economic Cooperation and Development (OECD) have also cut their growth projections for India to 7% and 6.7%, respectively, for fiscal 2017-18. This was higher than the 4 per cent growth recorded in same month last fiscal.

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During April 2017-August 2017 period IIP grew at 2.2%, down from 5.9% in the same period in 2016-17.

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.

On the industrial output measured in terms of Index of Industrial Production (IIP), Aditi Nayar, Principal Economist, ICRA Limited, said in a statement that "On a cautious note, this uptick in industrial growth may not sustain in September 2017, with the early indicators for industrial production in the organised sectors, namely, automobiles, coal and electricity generation, revealing some moderation in the pace of expansion from the spikes recorded in August 2017".

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

Food price inflation eased to 1.25 percent from 1.52 percent.

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