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Retail inflation eases to 4.4% in February; IIP grows 7.5% in January

Retail inflation eases to 4.4% in February; IIP grows 7.5% in January

In February, consumer food price index softened to 3.26 per cent as against 4.7 per cent in January.

On retail inflation, "the undercurrent remains biased on the upside, making RBI disinclined towards any rate cut", he said.

Shoppers ride escalators inside a store at a mall in Mumbai, India, July 10, 2017.

According to official data released on Monday, consumer price index (CPI) based inflation eased to a four-month low of 4.44 per cent in February from 5.07 per cent in January.

Industrial production grew at a high rate of 7.5 percent in January 2018 against 3.5 percent in the year-ago month on the back of good show by manufacturing coupled with higher offtake of consumer and capital goods.

The manufacturing sector grew at 8.7%, followed by electricity at 7.6%. In February 2017, however, it was 3.65 per cent. Inflation in vegetables was 17.57 per cent in February against 26.97 per cent in January.




Inflation as measured by the CPI slowed to 4.44% in February from 5.07% in January, mostly due to easing food and fuel prices.

Though it will give comfort to the Centre that had been under pressure after demonetisation, implementation of Goods and Services Tax and the Punjab National Bank scam, experts expect the Reserve Bank of India to maintain a status quo on rates.

The inflation also declined for milk and products to 3.83%, prepared meals, snacks, candies etc. 4.47%, oils and fats 1.09% and non-alcoholic beverages 1.34%.

Further, the cumulative growth for the period April - January 2017-18 over the corresponding period of the previous year stands at 4.1 percent. "Domestic pump prices of petrol and diesel rose sharply in January, reflecting lagged pass-through of the past increases in worldwide crude oil prices". However, growth in the mining sector was muted in January 2018.

Teresa John analysts at Nirmal Bang expected, CPI inflation for February 2018 to come in at 4.9%, down from 5.1% in the previous month.


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