Retail inflation for January eases to 5.07%

India's factory output grows 7.1% in December

Within the food items, the inflation fell for vegetables to 26.97%, sugar and confectionery 2.85%, cereals and products 2.33% and fruits 6.24%.

"Inflation's now been above target for 12 straight months".

Sterling rose 0.5% against the dollar to 1.39 USA dollars following the news.

But last week the Bank of England said it's likely to raise interest rates sooner and by more than it thought only three months ago because Britain's slow-moving economy is getting a boost from the global recovery.

"After rising strongly since the middle of 2016, food price inflation now appears to be slowing".

Clothing prices helped to prop up the inflation figure despite having fallen 3.7% month on month, which marked a weaker drop compared to the 4.3% fall during the same period a year earlier.

Inflation rose by more than expected in January, according to a keenly awaited report released Wednesday.

"If this is the case, some tightening of monetary policy looks increasingly appropriate", he adds.


"The finance part of the story as reflected by bank credit growth to manufacturing or debt issuances from non-finance companies does not support the idea that there has been a major turnaround in investment in infra or manufacturing", he said. Housing inflation was recorded at 8.33 per cent in January as against 8.25 per cent a month ago and "fuel and light" inflation rate moderated to 7.73 per cent in January from 7.90 per cent a month ago, CSO data showed.

The construction of the CPI combines economic theory, sampling and other statistical techniques using data from other surveys to produce a weighted measure of average price changes in the Nigerian economy.

"This is a disaster for households, many of which are about to be clobbered with inflation-busting increases for bills such as council tax".

ONS senior statistician James Tucker said: "Headline inflation was unchanged with petrol prices rising by less than this time a year ago".

"In terms of the policy outlook, we think the BoE should wait until the sterling collapse effects have fully left the system before being able to assess the domestic demand impact on the headline inflation figures". "Overall, we expect CPI inflation to dip in February-March 2018, before rising in Q1 2018-19", Nayar said.

Excluding automobiles, gasoline, building materials and food services, retail sales were unchanged last month after dropping 0.2 percent in December.

Finance Minister Arun Jaitley, in his budget speech, announced a slew of rural and healthcare policies that are likely to increase inflationary pressure, thereby making it hard for the RBI to tinker with the interest rates. "Both seem unlikely to us", they continued.

Related:

Comments

Latest news

Trump Asks For Due Process As Staffers Resign Amid Abuse Allegations
Jennifer Willoughby, Porter's wife from 2009 to 2013, provided a copy of a 2010 protective order she filed against him. Trump Friday wished his former aide well, noting that Porter had done "a very good job in the White House ".

Everton fan discord mars easy win against Crystal Palace
Coleman - who has just returned from a broken leg - was substituted at half time. The Hammers are now 12th on 30 points with Watford 11th also on 30 points.

Top overall seed in preliminary NCAA bracketing
Michigan State is ranked as the No. 11 overall seed, behind Clemson (No. 9) and Texas Tech (No. 10). Virginia would be the No. 1 overall seed, despite its overtime loss to Virginia Tech on Saturday.

Oxycontin Maker Purdue Pharma To Stop Agressive Marketing Of Opioids
A surge in prescriptions of opioids followed the 1995 release of the drug when about 90 million opioid prescriptions were filled. The government claims the results have been tragic - and left government agencies with millions in social and health care costs.

Hamish Watson wants Scotland to handle 'expectations' in Six Nations better
The winger's chip over the top left Maitland stranded, and although Laidlaw was back to cover, the bounce evaded the scrum-half. Simon Mail previews the second weekend of the Six Nations with Scotland hosting France and Ireland taking on Italy .

Why you should totally wait to buy Apple's new HomePod
If you want to do the same on the HomePod, you'll need to use the AirPlay feature streamed from another Apple device. Also, Apple sometime later this year to enable a stereo sound effect when two HomePods are connected wirelessly.

Hong Kong bus overturns, killing at least 19 people
Saturday's crash appears to be the worst since a double-decker bus fell off an elevated roadway in 2003, killing 21 people. Ten of the injured people remain in critical condition, including one who sustained a head wound and a broken neck.

French designer Roland Mouret To Design Meghan Markle's Wedding Dress
The musician would not pass the opportunity to be at the royal wedding given his relationship with the British royal family. Wales women's Six Nations Rugby Championship at Twickenham Stoop on Saturday, without his fiancee Meghan Markle .

Canada breezes past OAR to clinch mixed doubles playoff berth
With each team sliding eight rocks apiece during a turn or an "end", there are plenty of potential outcomes. The Mixed doubles matches are now over, but both Hamiltons will compete in the single-sex tournaments.

Chris Holtmann Has A Message For Ohio State Fans After Beating Purdue
Much has changed since the Buckeyes jumped on the Hawkeyes early and rolled to a 92-81 victory in Iowa City on January 4. Purdue's PJ Thompson commits one of the team's dozen turnovers in a brutal loss to the surging Buckeyes.

Second White House official resigns amid domestic violence accusations
What happened with Mr Porter? Mr Sorensen denied the allegations, the Post reported , and claimed that he was abused by her. On Friday, President Donald Trump called Porter's departure "very sad" and said he wishes the ex-staffer "well".

PM's Palestine Visit: Defence, Security On Agenda, 12 Pacts To Be Inked
Both sides agreed to deepen their engagement in several areas including health, IT, tourism, youth affairs, sports, agriculture. He will then hold talks with Sultan Qaboos Bin Said Al Said, who will host a banquet in the visiting dignitary's honour.

Egypt announces major military operation in Sinai and Nile Delta
The Egyptian Army has announced on Friday the launch of a major operation against extremist militants across the country. Over the years, most attacks have targeted soldiers and police, but civilians have also been killed.

National Pizza Day 2018: Fun Facts and Deals
This West Coast pizza chain is giving away one free personal pizza per person when you buy a Pepsi fountain drink. Here's everything you need to know to make sure you get a slice of the action - at a fraction of the price.

Olympics - Denied US flag with coin toss, Davis snubs ceremony
Shortly after the coin hit the ground, he took to Twitter to vent about how the whole situation was "dishonorably" handled. It equally wasn't right to reference black history month reference in your retort. "They're really pumped.

Other news