The government is set to release the industrial production (IIP) data, consumer price index (CPI) data and wholesale price index (WPI) data. The IIP data for September is slated to be announced on November 11, and October's CPI and WPI data will be released on November 14.
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IIP preview
Index of Industrial Production or IIP is used to measure the manufacturing activity in various sectors of an economy. IIP measures the amount of industrial production for the period under review — September, in this case — in comparison with a reference period. This macroeconomic data shows the state of various important economic sectors.
The September IIP growth is seen at 2.4 percent, compared to a decline of 0.8 percent in August, and 3.3 percent in the year-ago period. The September IIP growth estimates range from -0.2 percent to 5.1 percent according to a CNBC-TV18 poll.
Fading of unfavourable base effects is likely to be the primary driver for improvement in September IIP. The core infrastructure industries output grew by 7.9 percent year-on-year in September vs 4.1 percent in August. Manufacturing PMI rose modestly to 55.3 in October from 55.1 in September.
In August, the IIP declined by 0.8 percent, down from 2.4 percent in the preceding month.
Here's how various sectors performed in July and August
| Sector | July | August |
| Mining | -3.4% | -3.9% |
| Manufacturing | 3.2% | -0.7% |
| Electricity | 2.3% | 1.4% |
| Primary Goods | 2.5% | 1.7% |
| Capital Goods | 5.8% | 5% |
| Infra Goods | 3.9% | 1.7% |
| Consumer Durable Goods | 2.4% | -2.5% |
| Consumer Non-durables | -2% | -9.9% |
CPI Preview
The CPI is an index that measures retail inflation by examining the changes in prices of most common consumer goods and services. It is calculated for a fixed list of items including food, housing, apparel, transportation, electronics, medical care, education, etc.
Also Read: India's manufacturing activities gain further strength in Oct on sharp upturn in new orders, production
CPI in October is seen at 6.7 percent against 7.4 percent in the preceding month and 4.5 percent in the year-ago period. According to a poll by CNBC-TV18, the October CPI estimates range from 6.5-6.9 percent.
| October | September | August | |
| CPI | 6.7% | 7.4% | 7% |
| Core | 5.9% | 6.1% | 5.9% |
| Food | 7% | 8.6% | 7.6% |
The inflation in October is expected to be moderate and favourable base effect likely to help drag both food and core inflation. CPI would still remain above MPC’s six percent upper tolerance limit for the 10th consecutive month.
Unseasonal rains are exerting pressure on vegetable prices and milk prices are also revised upwards. Cereal prices are also witnessing an uptick. LPG prices have been moderated, however higher PNG and CNG prices may exert pressure on month-on-month basis.
WPI preview
WPI measures the price changes of goods that wholesale businesses sell to and trade in bulk with other businesses. The index tracks factory gate prices before retail prices, unlike CPI, which tracks prices of goods and services purchased by consumers.
The October WPI is seen at 8.4 percent as against 10.7 percent in the preceding month, and 13.8 percent in the year-ago period. The October WPI estimates, as per a CNBC-TV18 poll, range from 8-9 percent.
Also Read: India's services sector sees upturn in October on improved demand
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