Retail inflation falls Feb, industrial output increases in Jan

Retail inflation falls Feb, industrial output increases in Jan

Retail inflation falls Feb, industrial output increases in Jan

Meanwhile, the Index of Industrial Production (IIP) growth in January 2018 jumped to 7.5% against the Bloomberg estimate of 6.4% and 7.1% in December 2017.

Moreover, this was the biggest growth since February 2011.

The country's industrial production, however, rose by 7.5% in January, backed by growth in manufacturing, consumer and capital goods sectors. The capital goods sector continued to witness strong growth of 14.6% in January, although this was lower than the 16.44% seen in the previous month. However, the mining sector saw a flat growth of 0.1 per cent compared to 8.6 per cent a year ago.

RBI had left policy rates unchanged fearing a rise in inflation and had projected Q4FY2018 inflation at 5.1%, including the impact of HRA, considering the rise in fuel prices in January 2018, and less-than-usual moderation in seasonal food prices. "Domestic pump prices of petrol and diesel rose sharply in January, reflecting lagged pass-through of the past increases in worldwide crude oil prices".

Inflation softened last month mainly on account of cheaper food prices and lower cost for fuel.

As per the use-based classification, the growth rates in January 2018 over January 2017 are 5.8 per cent in primary goods, 4.9 per cent in intermediate goods, and 6.8 per cent in Infrastructure/ Construction Goods.

The CPI inflation was in line with the Reserve Bank of India forecast of 5.1% from January to March.

On the other hand, the industry group "Manufacture of tobacco products" has shown the highest negative growth of (-) 46.5 percent followed by (-) 32.4 percent in "Other manufacturing" and (-) 13.2 percent in "Printing and reproduction of recorded media".

The cumulative growth in these three sectors during April 2017-January 2018 stood at 2.5%, 4.3%, and 5.3%, respectively.

Dutch industrial production expanded at the quickest pace in nearly seven years in January, figures from the Central Bureau of Statistics showed Monday.

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