CPI-based inflation eases to 5.02% in Sep; Aug IIP growth zooms to 10.3%

The consumer price index (CPI)-based inflation for the month of September eased to 5.02 per cent as against 6.83 per cent in August, according to the data released by the National Statistical Office (NSO) on Thursday.

The inflation has come back to the Reserve Bank of India (RBI)'s comfort level of below 6 per cent after a gap of two months.

It was at 7.56 per cent in September 2022. Food inflation fell to 6.56 per cent in September against 9.67  per cent in August. Rural inflation was on the higher side at 5.33 per cent, compared to urban inflation at 4.65 per cent in September.

The inflation rate for September for cereals and products was 10.95 per cent, meat and fish 4.11 per cent, milk and products 6.89 per cent, fruits 7.3 per cent, vegetables 3.39 per cent.

In the index of industrial production (IIP) growth for the month of August came at 10.3 per cent vs 5.7 per cent in July. For August 2023, the IIP growth rate was -0.7 per cent. 

The data released by the National Statistical Office (NSO) showed that the manufacturing sector's output increased by 9.3 per cent in August 2023. Mining production rose 12.3 per cent during the month under review. Power output grew 15.3 per cent in August 2023.

The indices stand at 145.4 for primary goods, 107.0 for capital goods, 156.1 for intermediate goods and 175.5 for infrastructure/ construction goods for the month of August 2023. Further, the indices for consumer durables and consumer non-durables stand at 122.8 and 147.0 respectively for the month of August 2023.