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India September Consumer Price Inflation Unchanged at 3.28%

12 October 2017

Manufacturing sector, which accounts for more than three-fourth of the entire index, continued to growth at 3.1 percent in August, compared with 0.1 percent growth in July, government data showed.

Meanwhile, the index of industrial production (IIP) increased to 4.3 per cent in August against July's figure of 1.2 per cent.

Prices of food products went up last month 0.54 pct, similar to those of non-food products while service tariffs increased 0.32 pct. Last year, consumer inflation rose by 4.39 per cent in the month of September.

The industrial production, which grew a meagre 1.2%, bearing the brunt of a dismal show of the manufacturing sector, made a remarkable comeback at 4.3%.

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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.

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

Earlier this month, the RBI left interest rates unchanged, after cutting the key rate by 25 basis points in August, while raising its retail inflation projection for October-March to a range of 4.2 to 4.6 percent, and lowered its economic growth estimates.

According to BNR, the CPI annual inflation rate going back to the target interval was estimated to occur in the third quarter of 2017.

India September Consumer Price Inflation Unchanged at 3.28%