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

The Consumer Price Index or retail inflation stood at 4.39 per cent in September 2016. PTI file

The Consumer Price Index or retail inflation stood at 4.39 per cent in September 2016. PTI file

The output growth in manufacturing sector, which constitutes 77.63 per cent of the index, however decelerated to 3.1 per cent in August from 5.5 per cent a year ago.

India's industrial production grew at a nine-month high of 4.3 percent in August due to good performance of mining, electricity and capital goods sectors, government data showed. Rate of price rise in pulses continued with deflationary trend at (-) 22.51 per cent and eggs prices fell by 0.15 per cent.

The National Bank of Romania (BNR) revised at the beginning of August the inflation forecast for the end of this year to 1.9 pct, given that it had previously estimated a 1.6 pct inflation rate, down 0.1 percentage points.

IIP figures showed that the roll-out of the GST regime did not push industrial production into a negative zone, as some experts had predicted.

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The latest print is lower than 4.39 per cent recorded in September previous year. Similarly, consumer non-durables grew almost 7 percent, which contracted (-) 0.1 percent in July.

Underlying inflation also remained stable at 2.3 percent September. 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.

Analysts polled by Reuters had expected retail inflation to edge up to 3.60 percent last month from 3.36 percent in August.

It was 3.36 percent in the previous month. The rate continues to be below 4 per cent, the mid-term target set by the Reserve Bank of India (RBI).

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