Expert Views: India's consumer inflation eases to 3.28 percent in September

Expert Views: India's consumer inflation eases to 3.28 percent in September

The annual inflation went up in September to 1.8 pct from 1.2 pct in August, according to data of the National Institute of Statistics (INS), sent on Wednesday.

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.

Industrial production (IIP) rose to 4.3 per cent in August, up from July's 1.2 percent growth.

Industrial production has made a remarkable growth at 4.3% defying slowdown from previous month's 1.2%.

On a monthly basis, consumer prices edged up 0.1 percent from August, when it dropped by 0.2 percent.

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Economists surveyed by Reuters had forecast 2.4% growth in output compared with a revised 0.9% year-on-year increase in July.

At least 10 industry groups showed growth in manufacturing sector.

As per use-based classification, the growth rates in August 2017 over August 2016 are 7.1 per cent in primary goods, 5.4 per cent in capital goods, (-) 0.2 per cent in intermediate goods and 2.5 per cent in infrastructure/ construction goods. The average rate of consumer prices over the last 12 months (October 2016 - September 2017), Y-o-Y, calculated against the CPI [consumer price index - ed.n.] stands at 0.4 pct. Inflation not easing further dampens hopes of India Inc for interest rate cuts.

The General Index for the month of August 2017 stands at 121.5, which is 4.3% higher as compared to the level in the month of August 2016.

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