CPI Inflation In September, IIP Growth In Aug Is In Line With Our Expectations: Motilal Oswal
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Motilal Oswal Report
Consumer price index based retail inflation came in at a five-month low of 4.35% YoY in September 2021 as against 5.3% YoY in August 2021.
The number was broadly in line with our expectations of 4.4% YoY, but slightly lower than Bloomberg consensus of 4.5% YoY in Sep-21.
With this, CPI inflation in Q2 FY22 stood at 5.1% YoY (similar to our expectation) versus 5.6% YoY in Q1 FY22.
Separately, index of industrial production was up 11.9% YoY in Aug-21 (against 11.5% YoY in July-21).
The number is higher than Bloomberg consensus of 11.6% YoY, but in line with our expectation.
Notably, the IIP number for May 2021 has been revised marginally downwards to 27.6% YoY from 28.6% YoY earlier.
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