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Retail inflation eases to 3.31% in October ; IIP numbers at 4.5% in September

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Retail inflation moderated to a 13-month low in October while industrial growth held steady in September, the government said on 13 November, 2018, bringing more festive cheer to the economy following a decline in crude prices.

Retail inflation as measured by the consumer price index (CPI) eased to 3.31% in October from 3.7% in September (revised from the earlier estimate of 3.77%), reducing chances of the Reserve Bank raising interest rates at the next monetary policy review, scheduled for December.

Industrial production grew 4.5% in September compared with the upward revised 4.7% in August, data released by the statistics office showed. August growth had initially been estimated at 4.3%. For the first six months of the year, factory output as measured by the index of industrial production (IIP) grew 5.1% compared with 2.6% in the year-earlier period.