SBI Group Chief Economist Soumya Kanti Ghosh said the Central Statistics Office should clarify doubts over this significant increase
Falling international crude prices had its impact on the inflation rate
It will offer hints on prospects of construction and finance sectors
The RBI would be watching this number closely and an adverse report on monsoon or a further spike in oil prices could hasten a rate hike in the coming policy
Food inflation rose to 3.1 per cent, from 2.8 per cent in April while vegetable prices rose 8.40 per cent, from 7.29 per cent
As per the data of the Central Statistics Office (CSO), food inflation rose to 3.10 per cent last month, as against 2.8 per cent in April
The direct impact of the increase in the house rent allowance announced by the government fades away by December 2018
The cess was also raised on luxury cars from the middle of September but the impact was not that much
In the fuel and light segment, it was 7.92%, as against 6.36% in October
Mainly pushed by high food prices during the month, the CPI-based inflation breached the RBI's medium-term target of 4%
Retail inflation has been steadily rising since June
RBI at its policy review meeting earlier this month kept the key interest rate unchanged at 6%
The consumer price index (CPI)-based inflation rose to a five-month high at 3.36 per cent in August from 2.36 per cent in the previous month as food items, particularly vegetables turned inflationary from the price fall seen in the previous three months. Also, the goods and services tax (GST) made certain services inflationary, dampening chances of RBI cutting the repo rate next month.Before this, inflation was higher at 3.89 per cent in March. Food items witnessed inflation at 1.52 per cent in August against deflation of 0.36 per cent in July. Within this category, vegetables saw prices rising at the rate of 6.16 per cent against price fall of 1.67 per cent. However, prices in tomatoes have eased in September compared to August, which would have easing impact on inflation. Fruits saw rise in inflation to more than 5 per cent from over 2.83 per cent.However, pulses continued to see fall in prices at over 24 per cent. Also, inflation in sugar and confectionery declined to 7.35 per ...
And, for 2018, it cut forecast to 4.3% from 4.6% earlier
Pressure mounts on central bank to cut rates; food deflation persists amid farmer distress
Due to factors like rise in rural wages and transient impact of GST
BofA-ML said based on sowing data, it is expecting bigger oilseeds and pulses output
The rupee which was at 66.7 to a dollar at February-end is currently hovering around 64-level
Snapping a trend of last four months, both inflation numbers based on the consumer price index (CPI) and the wholesale price index (WPI) moved in the same direction, rising in February against the previous month. While WPI inflation jumped to a 39-month high of 6.55 per cent in February compared to 5.25 per cent in the previous month, the CPI inflation rose to a three-month high of 3.6 per cent from 3.2 per cent. The data justified the Reserve Bank of India's caution on loose monetary stance amid expected increase in interest rates in the United States in the next few days. The likelihood of RBI cutting the policy rates in April remained subdued. The inflation numbers were up on the back of expensive food and fuel items, even as manufacturing products saw a decline in inflation. With this gap between WPI and CPI which have been widening in the last few months would narrow down a bit. However, the rise in WPI was much sharper than CPI."WPI inflation recorded a much sharper uptick in ..
It was 3.17% in January; food inflation rises to 2%