Factory Output Growth Surges To 9-Month High, Inflation Eases

Factory Output Growth Surges To 9-Month High, Inflation Eases

The earlier projected Inflation rate for August stood 3.36 per cent. IIP or Index of Industrial Production grew to a nine-month high of 4.3 per cent in August.

The National Bank of Romania (BNR) revised at the beginning of August the inflation forecast for the end of this year to 1.9 pct, given that it had previously estimated a 1.6 pct inflation rate, down 0.1 percentage points.

According to preliminary data released by the Central Statistics Office on Thursday, the consumer price index (CPI) increased 3.28 per cent year on year against the August numbers of 3.36 per cent.

Analysts polled by Reuters had expected retail inflation to edge up to 3.60% last month from 3.36% in August.

There is no room or scope for further easing rates for at least 3-4 months. All this will basically impart upside risk to the baseline inflation trajectory.

Hurricane Ophelia Moving At Snail's Pace To Northeast
It is now around 760 miles south-west of the Portuguese Azore islands, whipping up 75mph winds as it trundles eastwards. A hurricane is headed for the United Kingdom - and it's due to hit on the 30-year anniversary of the 1987 Great Storm.

"There will be improvement in aggregate demand for commodities during festive season", Hitesh Jain, associate vice president- research, IIFL Wealth Management.

The pullback in food prices overwhelmed the uptick in non-food components, including the higher housing segment.

Computed for steady taxes, the inflation rate will reach 2.9 pct in December 2017, a value above the median inflation target of 2.5 pct.

The output of mining and electricity sectors during the month accelerated to 9.4 percent and 8.3 percent from (-) 4.3 percent and 2.1 percent respectively in August a year ago. But, we also need to keep an eye on food prices.

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