Home / Business / Money / July IIP slips to 0.5%; Aug CPI cools mildly to 7.8%

July IIP slips to 0.5%; Aug CPI cools mildly to 7.8%

A CNBC-TV18 poll had estimated CPI to soften to 7.7 percent and IIP to fall to 1.7 percent.

Reporter's Diary

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The News International Team

Industrial activity, as measured by the index of industrial production (IIP), slipped to 0.5 percent in the month of July, data released by the government showed, compared to 3.9 percent in the previous month (which was revised higher from 3.4 percent).

While consumer price index (CPI) for August came in at 7.8 percent against 7.96 percent in the previous month.

A CNBC-TV18 poll of economists had estimated CPI to soften to 7.7 percent and IIP to fall to 1.7 percent.

Deconstructing the industrial data, manufacturing sector activity contracted 1 percent versus growth of 1.8 percent in the previous month while mining sector growth came off 2.1 percent versus 4.3 percent. Consumer non-durables grew 2.9 percent compared to 0.1 percent month-on-month.

Consumer durables contracted slightly less at 20.9 percent, compared to -23.4 percent while consumer goods de-grew 3.8 percent versus 23 percent growth in India.

Within inflation, vegetable prices rose 15.15 percent, slightly less than the 16.88 percent growth a month ago while broader food inflation grew 9.42 percent compared to 9.36 percent.

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