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India's August Industrial Production rises 4.3%
12 October 2017, 05:19 | Kelvin Horton
The Consumer Price Index or retail inflation stood at 4.39 per cent in September 2016. PTI file
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 past year. According to preliminary data released by the Central Statistics Office on Thursday, the consumer price index (CPI) increased 3.28 per cent year on year against the August numbers of 3.36 per cent.
India's industrial output grew sharply 4.3 percent in August, highest in nine months, showing signs of recovery, aided by an expansion in the manufacturing sector.
Food and beverages during the month under consideration recorded a rise of 1.76 per cent over the same month a year ago.
The mining sector in August grew 9.4% as compared to 4.8% in July, while manufacturing sector grew 3.1% as compared to 0.1% in the previous month.
Inflation rose to 2.36 percent in July, after consistently falling for three straight months.
The August electricity sector output is at 8.3 per cent, against 6.5 per cent in July.
The government today revised July's factory output growth to 0.9 percent in July, as compared with an earlier estimate of 1.2 percent.
Factory output measured by the index of industrial production (IIP) is the closest approximation for measuring economic activity in the country's business landscape. A Reuters poll of economists which had projected inflation at 3.60 per cent.
Among non-food categories, the "fuel and light" segment's inflation rate accelerated to 5.56 per cent in September.