India's retail inflation static at 3.28% in September

Industrial production has made a remarkable growth at 4.3% defying slowdown from previous month’s 1.2

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.

The Central Statistics Office (CSO) also revised downwards the August inflation to 3.28 per cent from 3.36 per cent.

Ms. Nayar said appreciable strengthening of the industrial growth in August 2017 from the mild 0.94% in July 2017 was on expected lines, as restocking of manufactured items gained steam following the introduction of the GST and prior to the festive season.

Industrial production (IIP) rose to 4.3 per cent in August, up from July's 1.2 percent growth.

On a month-on-month basis, the CPI declined 0.15 percent and food prices fell 1.36 percent in September.

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The August electricity sector output is at 8.3 per cent, against 6.5 per cent in July. Morgan Stanley expects CPI inflation to rise further to 3.8%, inching closer to Reserve bank of India's (RBI) inflation target of 4%, while WPI inflation may inch up to 3.4% in September from 3.2% in August, largely driven by higher oil prices.

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.

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. At least 10 industry groups showed growth in manufacturing sector.

The data revealed the overall food inflation moderated to 1.25 per cent in September from 1.67 per cent in the previous month.

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