Data Preview - August CPI Inflation Seen At 5.82%; July IIP Likely To Grow: Nirmal Bang
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Consumer price index inflation is likely to come in at 5.82% in August 2021, slightly higher versus 5.59% in July 2021, reflecting elevated energy prices, increase in telecom tariffs, some amount of pass-through of higher raw material prices and increase in the cost of services.
Wholesale Price Index inflation is likely to moderate to 10.7% in August-21 from 11.2% in July-21.
The Index of Industrial Production is likely to grow by 12.5% YoY in July-21 after a 13.4% YoY rise in June-21.
IIP growth is moderating YoY due to a improving base, but the sequential momentum is expected to remain strong with the Markit manufacturing Purchasing Managers' Index standing at 55.3 in July-21, up from 48.1 in June-21.
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