Retail inflation at 3.28% in September

The Consumer Price Index or retail inflation stood at 4.39 per cent in September 2016. PTI file

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.

Mumbai: The factory output growth in August surged to 9-month high of 4.2%, indicating an acceleration of industrial activities after the initial setback due to GST-related destocking much to the delight of the government which is facing criticism over poor handling of the economy. The Index of Industrial Production (IIP) recorded 4 per cent growth in August past year.

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.

Factory output growth measured in terms of Index of Industrial Production (IIP) rose in August mainly on account of improvement in performance mining, electricity and capital goods. Morgan Stanley expects CPI inflation to rise further to 3.8%, inching closer to Reserve bank of India's (RBI) inflation target of 4%, while WPI inflation may inch up to 3.4% in September from 3.2% in August, largely driven by higher oil prices.

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

RBI pared down its economic growth projection based on gross value added (GVA) to 6.7% for 2017-18 from 7.3% estimated earlier blaming the tepid growth in foodgrains production, adverse impact of implementation of Goods and Services Tax on the industries and weak consumer confidence.

The data revealed the overall food inflation moderated to 1.25 per cent in September from 1.67 per cent in the previous month.

The July IIP growth has been revised to 0.9 per cent from 1.2 per cent.

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