Retail inflation falls Feb, industrial output increases in Jan

E-mini Dow Jones Industrial Average

The Consumer Price Index grew 0.2% in February on a seasonally adjusted basis, according to U.S. Bureau of Labor Statistics. The CPI was up 2.2% in the 12 months through February, compared with 2.1% in January, while the core index increased 1.8% from a year earlier for a third month.

Meanwhile, Economic Affairs Secretary Subhash Chandra Garg opined that given the increase in IIP numbers, industrial growth would henceforth be 'strong and comprehensive now.' 'Consumer Price Index-based inflation moderates further in February. The index for all items barring food and energy advanced 0.2 percent after a 0.3 percent expansion in the preceding month.

Tame core goods prices (only 0.1% this month, and -0.5% yr/yr) continue to keep inflation at bay, a reflection of the remaining global economic slack offsetting a tightening USA economy.

Economists said that the seasonal trend of rising food prices may curtail the slide in food inflation going ahead that is likely to result in status quo by the RBI in its next policy meeting. The RBI targets inflation over the medium term at 4% with an upper limit of 6% and a lower threshold of 2%.

Gold prices rise the following inflation data and is near 1326.00 U.S Dollars per ounce. This followed a 0.5% January increase.

The food index was unchanged, while prices for food at home decreased 0.2%.

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Clothing prices rose sharply for the second straight month in February, and rents, vehicle insurance and airline fares also increased. The Federal Reserve tracks a different index, the personal consumption expenditures price index excluding food and energy, which has consistently undershot the central bank's 2 percent target since mid-2012.

Industrial production grow at a high rate of 7.5 per cent in January 2018 against 3.5 per cent in the year-ago month on the back of firm manufacturing sector coupled with higher offtake of consumer and capital goods. Here though, the 12-month pace should pick up to 2.5% year over year from 2.2%.

The U.S. NFIB small-business confidence index strengthened to a record high of 107.6 for February from 106.9 in the previous month.

Higher growth and a low base effect in capital goods and consumer durables supported the rise in industrial growth for January. The potential for four rate increases this year also held steady at around 25%. The weekly average was up from 78.60 per pound the week before and further above the 74.84 cents per pound reported the corresponding period a year ago, USDA said.

A survey of small businesses published on Tuesday showed the share of owners reporting higher selling prices in February hit its highest level since July 2014.

Fuel and light inflation stood at 6.8 per cent, compared with 7.58 per cent in January, while housing inflation stood at 8.28 per cent, from 8.33 per cent the previous month.


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