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13
February 2017
India's annual retail inflation eased to 3.17
per cent in January from 3.41 per cent in December and 5.69 per cent reported
during the corresponding period last year, official data showed on Monday.
According
to Consumer Price Index (CPI) data released by the Central Statistics Office
(CSO), the fall in retail inflation was mainly due to a drop in the annual food
inflation -- to 0.53 per cent in January from 1.37 per cent in December. The Total Investment & Insurance
Solutions
The CPI
data revealed that the annual retail inflation for rural India was 3.36 per
cent while that for the urban centres was 2.90 per cent. The annual food
inflation was 1.07 per cent in rural areas and (-)0.31 per cent in urban. The Total Investment & Insurance
Solutions
The
official data disclosed that prices of vegetable plunged by (-)15.62 per cent
on a year-on-year (YoY) basis, whereas cost of pulses dropped by (-)6.62 per
cent.
The
prices of milk and milk-based products surged by 4.23 per cent. Other
protein-based food items such as meat and fish became dearer by 2.98 per cent. The Total Investment & Insurance
Solutions
Besides,
eggs became expensive by 2.64 per cent and the cost of spices rose by 5.04 per
cent.
Edible
oils and fats prices increased by 3.12 per cent, whereas those for sugar and
confectionery edged up by 18.69 per cent on a YoY basis. The Total Investment & Insurance Solutions
The
cost of cereals and its products appreciated by 5.23 per cent, while prices of
fruits were up by 5.81 per cent. The
Total Investment & Insurance Solutions
The
easing of key price indices makes the context favourable for a rate cut by the
Reserve Bank of India (RBI) at its next monetary policy review. The Total Investment & Insurance
Solutions
Among
the states, the retail inflation was lowest in Chhattisgarh, at 0.1 per cent,
followed by Odisha at 1.8 per cent, and Andhra Pradesh at 1.9 per cent. The Total Investment & Insurance
Solutions
On the
flip side, it was as high as 7 per cent in Jammu and Kashmir, 6.3 per cent in
Delhi and 5.9 per cent in Himachal Pradesh. The Total Investment & Insurance Solutions
The
government target is four per cent plus-or-minus two percentage points for the
next five years.The Total Investment
& Insurance Solutions
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