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

12 October 2017, 04:36 | Hattie Nash

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

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

India's annual consumer inflation marginally eased to 3.28 percent in September from a year ago, government data showed on Thursday.

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.

In a boost to the economy, the factory output growth in August surged to 9-month high of 4.2 per cent, indicating an acceleration of industrial activities after the initial setback due to GST-related destocking.

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Meanwhile, the July IIP number was revised to 0.94 per cent from 1.2 per cent provisional estimates released last month.

On a monthly basis, consumer prices edged up 0.1 percent from August, when it dropped by 0.2 percent.

However, for the period April-August 2017, factory output grew at disappointing 2.2 per cent as compared to 5.9 per cent growth in same period last fiscal.

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IIP figures showed that the roll-out of the GST regime did not push industrial production into a negative zone, as some experts had predicted. The average rate of consumer prices over the last 12 months (October 2016 - September 2017), Y-o-Y, calculated against the CPI [consumer price index - ed.n.] stands at 0.4 pct. A Reuters poll of economists which had projected inflation at 3.60 per cent.

The General Index for the month of August 2017 stands at 121.5, which is 4.3% higher as compared to the level in the month of August 2016.

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