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India's industrial growth clocks nine-month high of 4.3% in August

12 October 2017

Retail or consumer inflation rose at lower-than-expected 3.28 per cent in September, unchanged from August.

Data on inflation and industrial production growth was released by the Central Statistics Office.

On the other hand, the industry group "Manufacture of furniture" has shown the highest negative growth of -16% followed by -15.1% in "Manufacture of tobacco products" and - 11.4% in "Printing and reproduction of recorded media". The CPI Inflation for September was recorded 3.28%, down from previous month's 3.36% mainly due to fall in food prices post monsoon.

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Meanwhile, the July IIP number was revised to 0.94 percent from 1.2 percent provisional estimates released last month.

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.

The latest print is lower than 4.39 per cent recorded in September a year ago.

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

It is a twin bonanza for the economy as the Consumer Price Index (CPI) for September has gone down and the industrial production for July has made a remarkable growth defying slowdown from the previous month.

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

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There is no room or scope for further easing rates for at least 3-4 months.

India's industrial growth clocks nine-month high of 4.3% in August