Published: Thu, October 12, 2017
Economy | By Annette Adams

IIP Growth Rises To 9-Month High Of 4.3 Percent In August

IIP Growth Rises To 9-Month High Of 4.3 Percent In August

The CPI Inflation for September was recorded 3.28%, down from previous month's 3.36% mainly due to fall in food prices post monsoon.

India's industrial output grew sharply 4.3 percent in August, highest in nine months, showing signs of recovery, aided by an expansion in the manufacturing sector. Economists, polled by Reuters, had predicted industrial production to rise 2.4 per cent in August.

Food and beverages during the month under consideration recorded a rise of 1.76 per cent over the same month a year ago.

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. In August, consumer inflation had risen to 3.36 per cent but it was later revised to 3.28 per cent.

The annual consumer inflation in September marginally eased to 3.28% from a year ago, the CSO data said. The electricity sector also rose with its output at 8.3% as compared to 6.5% in July.

Primary goods' production grew sharply at 7.1 percent in August as compared with 2.3 percent jump last month.

Earlier this month, the RBI left interest rates unchanged, after cutting the key rate by 25 basis points in August, while raising its retail inflation projection for October-March to a range of 4.2 to 4.6 percent, and lowered its economic growth estimates.

Data on inflation and industrial production growth was released by the Central Statistics Office.

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