CPI rises 3.28% in September; August IIP jumps 4.3%

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According to the data furnished by the Ministry of Statistics and Programme Implementation, September's consumer price index (CPI) inflation remained static at 3.28 per cent as compared to August.

The factory output stands at 4.3 per cent, while Index of Industrial Production (IIP) is at 4.3 per cent for August 2017, against 1.2 per cent in July. Retail inflation stood at 4.31 per cent in September, 2016.

Manufacturing sector, which constitutes over 77 percent of the index, showed a growth of 3.1 percent in August as compared to a growth of 5.5 percent in the same month previous year. Economists, polled by Reuters, had predicted industrial production to rise 2.4 per cent in August. In August, consumer inflation had risen to 3.36 per cent but it was later revised to 3.28 per cent. The manufacturing sector output also rose 3.1 per cent.

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 percent in intermediate goods and 2.5 percent in infrastructure/construction goods.

The year-on-year 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 last year. The rate continues to be below 4 per cent, the mid-term target set by the Reserve Bank of India (RBI).

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