Finance & Economy | News & Insights

Analysis – CPI Inflation – Sep 2023 and IIP Report – Aug 2023

Published: October 13, 2023
Author: TEXTILE VALUE CHAIN

Highlights

CPI:

  • CPI inflation eased to a 3-month low of 5% in September.
  • Moderation was largely led by correction in vegetables prices and lower LPG prices.
  • Cereals, Pulses and Spices continued to witness double-digit inflation.
  • Core inflation fell to the lowest in 3.5 years at 4.6%.
  • CPI inflation in Q2 FY24 averaged at 6.4%, in line with the RBI’s estimate.
  • Near-term risks to the inflation outlook have worsened due to volatility in global crude oil prices.
  • RBI will continue to manage inflationary pressures through its liquidity measures.
IIP:
  • IIP growth came at a 14-month high of 10.3% in August.
  • Broad-based growth across sectors and a favourable base supported growth.
  • Strong performance in infrastructure/construction goods continued with a growth of 14.9%.
  • Consumer durables output improved to 5.7% in August after two successive months of contraction.
  • Going ahead, domestic consumption remains critical; healthy momentum in infrastructure/construction goods to remain supportive of industrial activity.

CPI_Inflation_-_September_2023  IIP-August_2023

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