The government will release the index of industrial production (IIP) data and consumer price index (CPI) data on October 12, and wholesale price index (WPI) data on October 14.
The government will release the industrial production (IIP) data, consumer price index (CPI) data and wholesale price index (WPI) data later this week. The IIP data for August is slated to be announced on October 12, and September's CPI and WPI data will be released on October 12 and October 14, respectively.
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IIP measures the manufacturing activity in various sectors of an economy. It measures the amount of industrial production for the period under review — August, in this case — in comparison with a reference period. This macroeconomic data shows the state of various important economic sectors.
The August IIP growth is seen at 1.8 percent, compared to 2.4 percent in the previous month, and 11.9 percent in the corresponding period in the previous year. The August IIP growth estimates range from 0.5-4.7 percent according to a CNBC-TV18 poll.
The IIP growth might remain sluggish on a slightly high base and muted core sector. The core infrastructure industries grew by 3.3 percent year-on-year in the month of August.
In July, the IIP growth stood at 2.4 percent, down from 12.3 percent in the preceding month. The April-July IIP was at 10 percent against 33.9 percent in the previous year.
Here's how various sectors performed in June and July
|Consumer Durable Goods||2.4%||23.8%|
The CPI is an index that measures retail inflation by examining the changes in prices of most common consumer goods and services. It is calculated for a fixed list of items including food, housing, apparel, transportation, electronics, medical care, education, etc.
CPI in September is seen at 7.3 percent against seven percent in the preceding month and 4.3 percent in the year-ago period. According to a poll by CNBC-TV18, the September CPI estimates range from 7-7.5 percent. September's core CPI is expected to be reported at 6.1 percent, up from 5.9 percent in August. The estimates range from 5.9-6.5 percent as per the poll by CNBC-TV18 and the food inflation estimates range from 7.9-8.5 percent.
The inflation in September is seen touching a five-month high due to rising food prices and is likely to breach RBI’s upper tolerance band for the ninth month of the year. An erratic monsoon, supply shocks from Russia-Ukraine war have lent an upside risk to food inflation. The core inflation is likely to remain sticky in September, on a year-on-year basis.
The prices of petroleum products have largely been flat while gold prices continued to ease. Another factor adding on inflationary concerns is the weaker rupee.
This index measures the price changes of goods that wholesale businesses sell to and trade in bulk with other businesses. A WPI tracks factory gate prices before retail prices, unlike CPI, which tracks prices of goods and services purchased by consumers.
The September WPI is seen at 11.2 percent as against 12.4 percent in the preceding month, and 11.8 percent in the year-ago period. The September WPI estimates, as per a CNBC-TV18 poll, range from 10.7-11.8 percent.
WPI moderation is supported by easing input prices and higher base. The September PMI data indicated a rise in purchasing costs at the slowest pace in just under two years and the output charge inflation receded to a seven-month low.