IIP quickens to 7.5%, inflation softens

IIP quickens to 7.5%, inflation softens

The cumulative IIP growth for the April-January period of the current fiscal, at 4.1 per cent, was lower than the 5 per cent posted in same period of 2016-17.

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

Retail inflation fell to a 4-month low of 4.44 percent in February on cheaper food articles and lower cost for fuel. Within the food items, the inflation fell for vegetables to 17.57%, fruits 4.80%, meat and fish 3.31%, sugar and confectionery (-) 0.26% and cereals and products 2.10%.

India's consumer price index (CPI) or retail inflation stood at 4.44% in the month of February 2018, lower from 5.05% in January 2018, slightly in line with analysts expectations, however the numbers were higher compared to 3.65 in the corresponding month of the previous year. Consumer price inflation (CPI) was at 5.07% in January.

As industrial output expanded at 7.5 per cent in January, India Inc today said the improvement augurs well for the return of broad based recovery in industrial performance which may be on the up-slope, going forward.

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

Prices of pan, tobacco and intoxicants rose by 7.34%.

Stewart Mackertich expected CPI for February 2018 month to come in at 4.74%.

On a monthly basis, industrial production dropped a seasonally and working-day-adjusted 0.4 percent in January. However, growth in the mining sector was muted in January 2018.

Inflation in pulses and spices witnessed fall in price rise. Within the miscellaneous items, the inflation for transport and communication 2.39% and health 4.95%, while it has eased for personal care and effects to 4.24%, education 4.05%, household goods and services 4.16% and recreation and amusement 4.25% in February 2018. Similarly, inflation in the fuel and light segment slowed to 6.8% from 7.73% over the same period.

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