Economy

CPI inflation eases to 5.1% in January 2018

CPI inflation eases to 5.1% in January 2018

"India's growth story continues to march on", Commerce and Industry Minister Suresh Prabhu tweeted, reacting to the IIP data.

Electric heaters, gold jewellery, tobacco products, knitted readymade garments and medical/surgical accessories were among the highest negative contributors for IIP in December, the CSO said.

The sector makes up about 40 per cent of "Overall, growth may remain robust at around eight per cent in December 2017, despite the sequential dip in the performance of the core sector", she said. Manufacturing grew a robust 8.4% in the month and so did construction goods at 6.7%.

As per Use-based classification, primary goods growth rates in December 2017 over December 2016 were at 3.7%. Consumer non-durables also grew 16.5 per cent, against a contraction of 0.2 per cent in the year-ago period.

Manufacturing sector, which accounts for more than three-fourths of the entire index soared 8.4 percent in December 2017, compared with a 10.2 percent jump in November 2017 and a tepid growth of 0.6 percent a year ago, government data showed.

"We are still holding our view of 4.6 percent CPI inflation for the fiscal year 2018/19".

USA consumers said they expected to see the fastest wage growth in several years when polled in January, according to a monthly Federal Reserve Bank of NY survey. However, primary goods and consumer durable goods could post sub-5 per cent growth this time.

National Debt History
CPI inflation eases to 5.1% in January 2018

A consensus of economists are expecting the Office for National Statistics' (ONS) January Consumer Price Index (CPI) to come in at 2.9% on Tuesday, down from 3% in December and easing further from the most recent peak of 3.1% in November.

Food price inflation also appeared to be slowing - having risen strongly since mid-2016 - edging down 0.1% on the month amid larger falls in the cost of meat, oils, milk, cheese and eggs.

The RBI said its decision to keep its repo, or short term lending rate for commercial banks, unchanged is consistent with the neutral stance of the central bank aimed at achieving its median inflation target of 4 per cent.

In December, the capital goods segment grew by 16.4 per cent against a contraction of 6.2 per cent in the same month past year.

Consumer price index based inflation marginally cooled to 5.07 per cent in January from 5.21 per cent in the previous month as items such as vegetables, fruits and fuel components became cheaper.

Independent economists attributed the high growth in two consecutive months to a low base when industrial output had collapsed due to the impact of demonetisation in late 2016.

More news: Pence: Military Exercises on Hold During Olympic Games


  • Ashes to go: Drive-through goes sacred with Duluth church's Ash Wednesday service

    Ashes to go: Drive-through goes sacred with Duluth church's Ash Wednesday service

    On Wednesday, Christians will celebrate Ash Wednesday, the solemn beginning of a period of prayerful reflection and penance. Some see Wednesday's rare double-dose of holidays as a golden opportunity to see what kind of people we really are.
    Kim's sister ends Olympic visit, leaving South to mull offer

    Kim's sister ends Olympic visit, leaving South to mull offer

    Kim Yo Jong and the other North Korean officials are ready to fly back to Pyongyang aboard leader Kim Jong Un's private jet. Mattis also said he doubted that the sporting rapprochement would undermine US-South Korean ties.
    Mehsud group chief Sajna killed in USA  drone strike, TTP confirms

    Mehsud group chief Sajna killed in USA drone strike, TTP confirms

    He said Pakistani Taliban chief Mullah Fazlullah appointed a commander called Mufti Noor Wali Wali to replace their dead deputy. More bombing nearly invariably means more civilian casualties, which could further mobilise Afghans against the United States.
  • Hawks raid Guptas' Saxonwold residence

    Hawks raid Guptas' Saxonwold residence

    Police also raided the offices of the Gupta's Oakbay holding company in Johannesburg's upscale Sandton financial district. He said the Hawks had "concluded that operation" and were moving on to other addresses to continue their probe.
    Philadelphia shuts down for massive Eagles Super Bowl parade

    Philadelphia shuts down for massive Eagles Super Bowl parade

    Rookie running back Corey Clement, an undrafted rookie from Glassboro, had four receptions for a team-high 100 yards and a TD. When Doug Pederson was hired, he was rated as the worst coaching hire by a lot of freaking analysts out there in the media.
    PM Modi visits Sultan Qaboos Mosque, leaves for New Delhi

    PM Modi visits Sultan Qaboos Mosque, leaves for New Delhi

    Modi expressed hope that an independent and sovereign Palestinian state would be established as soon as possible. Modi described it as a "catalytic agent" of peace and harmony that will become a symbol of India's identity.
  • Matthew McConaughey shows Texas love for Nick Foles with full-page newspaper ad

    Matthew McConaughey shows Texas love for Nick Foles with full-page newspaper ad

    There was a sense of business-as-usual for the Pats, who were playing in their eighth Super Bowl in 17 years. While Johnson criticized the way the Patriots have handled the media, Johnson has had issues of his own.
    We list down the best of Shah Rukh Khan on Twitter

    We list down the best of Shah Rukh Khan on Twitter

    Shah Rukh Khan is now shooting for the same and it has been earlier reported that a lot of VFX work will be done on the film. On the work front, he is busy shooting for Aanand L Rai's " Zero ", which also features Katrina Kaif and Anushka Sharma.

    Fox willing to back independent Sky News

    Political opponents of the Fox-Sky deal, led by Labour Party politician Ed Miliband, continued to argue it should not be allowed. Sky is already 39%-owned by 21 Century Fox, which is in turn controls News Corporation, publishers of The Times and the Sun.
  • Nokia 2 will roll out in the United Kingdom  soon, here's when

    Nokia 2 will roll out in the United Kingdom soon, here's when

    With this update, Nokia 8 has become the only phone other than the Google Pixel and Nexus phones to receive Android 8 .1 so far. Nokia 8 Oreo Update V4.84AImportant: Above 50% battery power is recommended while updating to the new OTA firmware update.
    Trump says Democratic intelligence memo is 'very political' and needs redaction

    Trump says Democratic intelligence memo is 'very political' and needs redaction

    Democrats charge that the Republican memo contains cherry-picked information and distorts the facts. The Associated Press reported on the announcement at 7:49 PM.
    Gigi Hadid: My Body Has Changed Because I Have Hashimoto's Disease

    Gigi Hadid: My Body Has Changed Because I Have Hashimoto's Disease

    The 22-year-old model wrote in a series of tweets that she has lost weight since she was diagnosed with the autoimmune disease. HollywoodLifers , what do you think of Gigi's response to the body-shamers?