India:Food keeps inflation low,manufacturing IIP recovers
类型:投资策略 机构:香港上海汇丰银行有限公司 研究员:香港上海汇丰研究所 日期:2017-10-16
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- September CPI inflation remained unchanged at 3.3% y-o-y from August (which was reviseddown from 3.4%), much lower than our and market expectations.
- Food inflation came in softer than expected at 1.8% y-o-y, while fuel and core inflation (ex food,fuel, petrol and diesel) grew much faster at 5.6% and 4.4% respectively.
- August industrial production accelerated to 4.3% y-o-y from 0.9% in July (revised down from1.2% earlier).
- Manufacturing growth finally picked up at 3.1%y-o-y, mining and electricity also grewimpressively at 9.4% and 8.3% respectively
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