Retail inflation falls Feb, industrial output increases in Jan

Yields on 10-year government bonds was at 7.697% compared to Friday’s close of 7.671

The Consumer Price Index grew 0.2% in February on a seasonally adjusted basis, according to U.S. Bureau of Labor Statistics. In the 12 months through February, the CPI rose 2.2 percent, up from 2.1 percent in January as the flat reading from previous year dropped from the calculation.

We also expect the previous year's base effect to contribute to the expected decline in inflation rate for the month of February.

"This easing appears to have come largely on the back of a slowdown in the food price inflation on account of one-off seasonal factors", Richa Gupta, senior economist and senior director, Deloitte India said.

In this fiscal to date, CPI inflation averaged at 3.5%, a sharp slide from 4.6% for the same period in fiscal 2017.

The central bank expects retail inflation to pick up to 5.1 per cent to 5.6 per cent in April-September before easing, assuming normal rainfall. The MPC expects inflation to rise in the first half but moderate significantly in the second. It was much lower at 2.01 per cent in February 2017. Also, private sector data showed local passenger vehicle sales grew 7.8 percent in February from a year ago, highlighting steady demand in the economy.

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Gasoline prices fell 0.9 percent in February after rebounding 5.7 percent in January. It is set to increase by just 0.2% for both headline and core, which should keep the core year over year pace unchanged at 1.8%.

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 competitive environment facing Kroger from Walmart and Amazon.com (AMZN) via its Whole Foods division, among others, offers at least some reason to doubt whether wage pressure will feed through to higher prices.

India's retail inflation picked up in October to a seven-month high, driven by.

Ken Matheny, executive director of USA economics at Macroeconomic Advisers by IHS Markit, said, "The CPI for apparel continued to rebound from soft readings late a year ago". The industrial production, which was 3.5 per cent in the same month last year, has seen a consistent growth in the past one year. It had increased its inflation projection to 4.3-4.7% in H2FY18 as compared to its earlier projections of 4.2-4.6%. The decline comes after prices for new and used cars jumped last fall as residents of Texas and Florida replaced cars destroyed by hurricanes.

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