IIP growth rises to 9-month high of 4.3 pc in August

IIP growth rises to 9-month high of 4.3 pc in August

Romania's annual inflation rate reached 1.8% in September, the highest level in four years, according to the National Statistics Institute (INS).

The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of August 2017 stand at 92.7, 123.3 and 155.4 respectively, with the corresponding growth rates of 9.4%, 3.1% and 8.3 % as compared to August 2016.

The previous high in IIP growth was recorded at 5.7 per cent in November 2016. A Reuters poll showed that economists expected consumer inflation to rise to 3.60 per cent in September. Services prices fell by 0.16% year-on-year.

The data revealed the overall food inflation moderated to 1.25 per cent in September from 1.67 per cent in the previous month.

The government today revised July's factory output growth to 0.9 percent in July, as compared with an earlier estimate of 1.2 percent. Primary goods output was 7.1%, up from 2.3% in July.

IIP figures showed that the roll-out of the GST regime did not push industrial production into a negative zone, as some experts had predicted.

India's consumer price inflation numbers remained steady in September while industrial production rose favourably. The drop in inflation could also raise demands for a rate cut now from the Reserve Bank of India that had kept the benchmark rates unchanged due to rising inflation trend.

There is no room or scope for further easing rates for at least 3-4 months.

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