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12 October 2017, 05:18 | Joann Bryant
The Consumer Price Index or retail inflation stood at 4.39 per cent in September 2016. PTI file
Food and beverages during the month under consideration recorded a rise of 1.76 per cent over the same month a year ago.
Industrial production (IIP) rose to 4.3 per cent in August, up from July's 1.2 percent growth. However, on a year-on-year (YoY) basis, the country's September retail inflation was lower than the 4.39 per cent CPI rate reported for the corresponding month of last year.
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.
The August mining sector output is at 9.4 per cent against 4.8 per cent in July, while the manufacturing sector output is at 3.1 per cent, against 0.1 per cent in July.
Factory output measured by the index of industrial production (IIP) is the closest approximation for measuring economic activity in the country's business landscape.
Inflation rose to 2.36 percent in July, after consistently falling for three straight months.
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.
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.
It was 3.36 percent in the previous month.
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. The drop in inflation could also raise demands for a rate cut now from the Reserve Bank of India that had kept the benchmark rates unchanged due to rising inflation trend.
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