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Retail inflation at 3.28% in September

Retail inflation at 3.28% in September

A Reuters poll of economists which had projected inflation at 3.60 per cent.

The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of August 2017 stand at 92.7, 123.3 and 155.4 respectively, with the corresponding growth rates of 9.4 percent, 3.1 percent and 8.3 percent as compared to August 2016. According to preliminary data released by the Central Statistics Office on Thursday, the consumer price index (CPI) increased 3.28 per cent year on year against the August numbers of 3.36 per cent.

Ms. Nayar said appreciable strengthening of the industrial growth in August 2017 from the mild 0.94% in July 2017 was on expected lines, as restocking of manufactured items gained steam following the introduction of the GST and prior to the festive season.

Factory output recorded a muted 0.9 per cent growth in July 2017, which was the first month after GST implementation.

All 3 JeM fidayeen, BSF jawan killed, near Srinagar airport
Under cover of darkness, the militants cut a fence to enter the camp in the early hours of Tuesday, he added. The attack took place on the BSF 182 battalion camp which is near the Srinagar worldwide airport.

India's economic growth slipped to a three-year low of 5.7 per cent in the first quarter of the current fiscal, leading to calls by the industry for a rate cut. It is also below the Reserve Bank of India's medium target of 4 per cent.

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.

Retail inflation has been steadily rising since June, when it eased to 1.46 per cent - its slowest pace since India started releasing such figures in January 2012, based on combined data for rural and urban consumers.

As food prices remained steady, the country's retail inflation also remained flat at 3.28% in September.

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