Double boost for economy: Industrial output growth rebounds; inflation cools

India's factory output grows sharply at 4.3% in August

India's factory output grows sharply at 4.3% in August

According to data released by the government, the retail inflation rate for the month of August stood at 3.36 per cent.

Data revealed overall food inflation moderated to 1.25 per cent in Sept from 1.67 per cent in previous month.

The earlier projected Inflation rate for August stood 3.36 per cent. IIP or Index of Industrial Production grew to a nine-month high of 4.3 per cent in August.

India's consumer price inflation numbers remained steady in September while industrial production rose favourably.

Factory output measured by the index of industrial production (IIP) is the closest approximation for measuring economic activity in the country's business landscape.

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 annual consumer inflation in September marginally eased to 3.28% from a year ago, the CSO data said.

The August intermediate goods output is at -0.2 per cent, against -1.8 per cent in July. A Reuters poll of economists which had projected inflation at 3.60 per cent.

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 past year. 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.

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