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India industrial production 5.7% y-o-y (consensus 4.8) in Jul-23

- India's industrial production in July 2023 surpassed expectations, growing at a rate of 5.7% year-on-year, highlighting a robust recovery in the sector.
- This increase in industrial production is significantly higher than both the one-year average by 2.02 percentage points and the long-run average by 2.85 percentage points, indicating a strong and sustained rebound.

India CPI inflation 6.83% y-o-y (consensus 7.0) in Aug-23

- India's CPI inflation for August 2023 came in at 6.83% year-on-year, slightly below the consensus forecast of 7.0% and marking the lowest growth since June 2023.
- The current inflation rate is 0.79 percentage points above the one-year average but falls 0.47 percentage points below the long-run average, indicating a relatively muted inflationary environment.

India CPI Inflation 6.83% y-o-y in Aug-23

- India's CPI inflation in August 2023 stood at 6.83% y-o-y, marking the lowest growth since June 2023 and showing a slight moderation from the previous month.
- The CPI inflation rate is 0.78 pp above the one-year average and 0.93 pp higher than the long-run average, indicating persistent inflationary pressures in consumer prices.

India PMI services 60.1 (consensus 61.0) in Aug-23

- India's PMI services for August 2023 came in at 60.1, slightly below market expectations of 61.0, indicating a slight moderation in growth.
- Despite the moderation, the services sector remains in expansionary territory, with the latest reading 1.53 points above the one-year average, highlighting a relatively robust performance.