CPI Inflation at 3.28% in September; August IIP rises 4.3%
Oct 12 2017 by Johnny Bowman
Industrial production grew at a nine-month high of 4.3 percent in August, mainly on account of robust performance of mining and power sectors coupled with higher capital goods output, official data showed on Thursday.
Food and beverages during the month under consideration recorded a rise of 1.76 per cent over the same month previous year.
India's consumer price inflation numbers remained steady in September while industrial production rose favourably.
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.
The July IIP growth has been revised to 0.9 per cent from 1.2 per cent.
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Primary goods' production grew sharply at 7.1 percent in August as compared with 2.3 percent jump last month.
The output of mining and electricity sectors during the month accelerated to 9.4 percent and 8.3 percent from (-) 4.3 percent and 2.1 percent respectively in August past year.
The output growth in manufacturing sector, which constitutes 77.63 percent of the index, however decelerated to 3.1 percent in August from 5.5 percent a year ago.
It was 3.36 percent in the previous month. The cumulative growth in these three sectors during April-August 2017 over the corresponding period of 2016 has been 3.3%, 1.6% and 6.2% respectively. The September CPI food inflation is at 1.25 per cent, against 1.52 per cent in August, while the CPI fuel, light inflation stands at 5.56 per cent, against 4.94 per cent in August.