Economy

Retail inflation at 3.28 pc in September

Retail inflation at 3.28 pc in September”

The average rate of consumer prices based on the CPI over the last 12 months (October 2016-September 2017) as compared to the previous 12 months (October 2015-September 2016) was 0.4%.

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".

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

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 a year ago.

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%.

Inflation rose to 2.36 percent in July, after consistently falling for three straight months.

Fuel inflation stood at 5.56 percent in September, while housing inflation stood at 6.10 per cent. The consumer price index (CPI) based inflation stood at 4.39 percent during the same month previous year.

Mumbai: Consumer inflation edged lower to 3.28 per cent for the month of September, driven by housing and fuel prices. Inflation not easing further dampens hopes of India Inc for interest rate cuts.

Compared to September 2016, food prices grew by 2.74% in September this year whereas non-food prices went up by 1.8%.



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