Business

India's factory output in August highest in nine months

India's factory output in August highest in nine months”

The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of August 2017 stand at 92.7, 123.3 and 155.4 respectively, with the corresponding growth rates of 9.4 percent, 3.1 percent and 8.3 percent as compared to August 2016.

Showing signs of revival, industrial production expanded at its fastest pace in nine months in August at 4.3 per cent, while retail inflation stayed flat at 3.28 per cent in September.

The Reserve Bank of India (RBI) while keeping the policy rates unchanged in its latest monetary policy review last week, marginally increased the inflation outlook to 4.2-4.6% for the second half (October-March) of the financial year.

Since August 1, retail petrol prices in Delhi have gone up 4.7 per cent and diesel 2.6 per cent despite a cut in taxes by the Central government.

Mining production showed a substantial jump of 9.4 percent in August from 4.8 percent in July. The previous high in IIP growth was recorded at 5.1 per cent in November 2016.

Ministry of Statistics and Programme Implementation has revised the Base Year of the Consumer Price Index (CPI) from 2010=100 to 2012=100 with effect from the release of indices for the month of January 2015. "However, 13 of the 23 sub-sectors of manufacturing with a weight of 27% in the IIP, recorded a contraction in August 2017".

Mumbai: Consumer inflation edged lower to 3.28 per cent for the month of September, driven by housing and fuel prices.

Food price inflation that measures kitchen costs, remained soft at 1.76 per cent. Vegetables prices grew at 3.92 per cent in September as compared to 6.1 per cent in August.



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