Retail inflation eases to 3.28% in September

The Consumer Price Index or retail inflation stood at 4.39 per cent in September 2016. PTI file

The Consumer Price Index or retail inflation stood at 4.39 per cent in September 2016. PTI file

India's industrial output grew 4.3 percent in August from a year earlier, government data showed.

The National Bank of Romania (BNR) revised at the beginning of August the inflation forecast for the end of this year to 1.9 pct, given that it had previously estimated a 1.6 pct inflation rate, down 0.1 percentage points.

The Consumer Price Index (CPI) inflation for September 2017 came in at better-than-expected 3.28 per cent, the same level as previous month. A Reuters poll of economists which had projected inflation at 3.60 per cent.

Electricity production increased 8.3 percent in August as compared with 2.1 percent a year ago.

It was 3.36 percent in the previous month. RBI may take a call in March since it clearly sees inflation scaling higher.

The rate of price in vegetables softened to 3.92 per cent (from 9.97 per cent in August).

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"There will be improvement in aggregate demand for commodities during festive season", Hitesh Jain, associate vice president- research, IIFL Wealth Management.

People also attributed the spike in retail inflation in August to GST. Economists believe that the inflation rate was driven by higher salaries of government employees as well as the impact of Goods and Services Tax (GST ).

The number is better than our expectations.

The latest print is lower than 4.39 per cent recorded in September past year. Going ahead, the key driver of inflation will be oil.

While we have a status quo stance on interest rates, continuation of muted inflation may open up room for rate cut.

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