Aug IIP At Stellar 6.4%; CPI Inflation Rises To 4.41%

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Consumer Price Inflation (CPI) for the month of Sept came in at 4.41 per cent, which was more or less in line with expectations.

Food inflation was placed at 3.88 per cent, which was better than most expectations. 

Aug IIP At Stellar 6.4%; CPI Inflation Rises To 4.41%
Index For Industrial Production (IIP) for August 2015 at 6.4 per cent, left most analysts surprise. Manufacturing growth came in at 6.9 per cent (month-on-month), which largely gave a push to the IIP.

In terms of industries, fifteen (15) out of the twenty two (22) industry groups (as per 2-digit NIC-2004) in the manufacturing sec tor have shown positive growth during the month of August 2015 as compared to the corresponding month of the previous year. 

Today's CPI data is not likely to have any significant changes in the Reserve Bank of India's Monetary Policy stance. The RBI has made it clear that it has frontloaded interest rates and the fact that inflation is well under control may not prompt the RBI to cut interest rates any further this year.

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