Double boost! CPI inflation falls, factory output steady; check October CPI, September IIP details

The CPI inflation cooled to 3.31 percent in October from 3.77 percent in September, official data showed Monday.
CPI, Retail Inflation, RBI, Food Inflation, fuel inflation, CSO, CPI in July,

In a good news for economy, the CPI inflation cooled to 3.31 percent percent in October from 3.77 percent in September on low food prices, official data showed Monday. Analysts polled by Reuters had forecast October’s annual increase in the consumer price index at 3.67 percent, compared with a downwardly revised 3.70 percent in September. The retail inflation number is the lowest since September 2017 when it touched 3.28 percent.

The prices of vegetables fell by 8.06 per cent in the month of October in comparison to a 4.15 percent contraction in September. In the fruit basket, the inflation also slowed to 0.35 percent in when compared to 1.12 percent recorded previous month.

It is the third straight month retail inflation has been below the Reserve Bank of India’s medium-term target of 4 percent, supporting its decision to hold interest rates at its meeting last month.

The inflation also eased in protein-rich items like cereals, eggs, milk and related products. However, inflation rose to 8.55 percent for the ‘fuel and light’ category in comparison to 8.47 percent last month.

The IIP or factory output data in the month of September rose to 4.5 percent from 4.3 percent in the previous month. However, this was a bit lower than an upwardly revised 4.7 percent on-year increase in the month of August, the data showed.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.