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Below The Perspective on IIP and CPI data By Mr. Nish Bhatt, Founder & CEO, of Millwood Kane International

“India's Index of Industrial Production grew 10.3% in August, compared to a revised growth of 6% in July, the fastest pace in over a year. This positive growth is largely driven by manufacturing sector output which has increased by 9.3 per cent in August 2023, while mining and power output also showing an increase.

The consumer price index (CPI)-based inflation for the month of September eased to 5.02 per cent as against 6.83 per cent in August. The inflation has come back to the Reserve Bank of India (RBI)'s comfort level of below 6 per cent after a gap of two months, with food inflation lowering to 6.56 per cent in September against 9.67 per cent in August, a relief to household.

Moving ahead, the evolving geopolitical situations like Israel-Hamas and Ukraine - Russia, any supply disruptions and surge in crude oil prices needs to be closely monitored.”

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