Higher food prices pushes up retail inflation

Consumer Inflation Rises to 2.57% in February as Compared to 1.97% in January 2019

Lower food prices halved India's retail inflation in February 2019 to 2.57 per cent, from 4.44 per cent during the corresponding month of a year ago, official data showed on Tuesday.

Today, we have an all-important release of US CPI data for the month of February and as we get close to the decision timings, here are the expectations as forecasted by the 8 major banks for the upcoming inflation data.

High food prices have led to a four-month high in retail inflation that rose to 2.57 per cent in February.

Treasuries rose after the report while the dollar fell, as the data suggest there's a greater chance that inflation won't hold up around the Fed's 2% objective - a development that would discourage policy makers from additional rate increases, amid rising risks from weakening global growth.

The Fed, which has a 2 percent inflation target, tracks a different measure, the core personal consumption expenditures (PCE) price index, for monetary policy. The broader CPI rose 0.2% from January, the first increase in four months, though the 1.5% annual gain missed projections and was the smallest rise since 2016.

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He notched up two fifties in the three matches against India at home and has also been solid on the tour. The move by the Board of Control for Cricket in India was heavily criticized in Pakistan.

In contrast, deflation in the cost of vegetables and pulses kept food prices subdued. The January PCE price data will be released on March 19 after being delayed by a 35-day partial shutdown of the federal government that ended on Jan. 25. The key shelter category rose 0.3% in February, and is up 3.4% on a year-on year basis.

In the 12 months through February, the core CPI rose 2.1 per cent. The CPI increased 1.6% on a year-on-year basis in January. The core CPI had increased by 0.2% for five straight months. After adjusting for inflation, average hourly earnings rose a seasonally adjusted 0.3% in February and are up 1.9% from February 2018. Annual wage growth jumped 3.4% in February, the biggest increase since April 2009, from 3.1% in January. Food costs gained 0.4 percent, the biggest increase since 2014. The central bank also changed its policy stance to "neutral" from "calibrated tightening". Clothing prices plunged 1 percent in February, while new-auto prices slipped 0.2 percent.

Prices for new motor vehicles, used cars and trucks, as well as recreation fell.

This article is for general information purposes only.

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