Retail inflation eases to 3.28% in September

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

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

On a sequential basis, the country's Consumer Food Price Index (CFPI) dropped to 1.25 per cent during the month under review when compared to 1.52 per cent in August 2017.

The Central Statistics Office (CSO) also revised downwards the August inflation to 3.28 per cent from 3.36 per cent. The Index of Industrial Production (IIP) recorded 4 per cent growth in August a year ago.

Both the Asian Development Bank as well as the Organisation for Economic Cooperation and Development (OECD) have also cut their growth projections for India to 7% and 6.7%, respectively, for fiscal 2017-18.

Factory output growth measured in terms of Index of Industrial Production (IIP) rose in August mainly on account of improvement in performance mining, electricity and capital goods.

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

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The government today revised July's factory output growth to 0.9 percent in July, as compared with an earlier estimate of 1.2 percent.

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.

IIP growth slowed down to 2.2% during April-August this fiscal from 5.9% in the corresponding period last fiscal.

The Index of Industrial Production (IIP) had registered a tepid growth of 1.2 per cent in July this year. "However, 13 of the 23 sub-sectors of manufacturing with a weight of 27% in the IIP, recorded a contraction in August 2017". "This is a good sign that notwithstanding the expected increase in prices of some food products, rentals/housing, transport and clothing, inflation has remained low".

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