Economy

Retail inflation falls to 4.4 percent in February

Retail inflation falls to 4.4 percent in February

In another data released by the government, the industrial production for the month of January came at 7.5 per cent, up from 7.1 per cent in December.

In January, retail inflation had declined to 5.07 per cent while the inflation based on wholesale prices had eased to a six-month low of 2.84 per cent.

India's annual industrial output grew 7.1 percent in December, data. Nonetheless, the rate was faster than the 3.65 percent registered in February 2017.

IIP grew at 4.1 per cent in April-January this fiscal as compared to 5 per cent in same period in previous financial year.

Consumer food price inflation, a metric to gauge changes in monthly kitchen costs, fell to 3.38 percent in February as compared with a 4.58 percent growth in January.

Retail inflation falls to 4.4 percent in February

Month-on-month, consumer prices dropped 0.37 percent, data showed.

"IIP number and consumer inflation will be key to watch in the next week as Bank Nifty has the highest weightage and is trading below the 200-day average", said Vikas Jain, Senior Analyst, Reliance Securities.

However, the mining sector saw a flat growth of 0.1 per cent compared to 8.6 per cent a year ago.

Industry group "Manufacture of other transport equipment" has shown the highest positive growth of 33.1% followed by 27.8% in "Manufacture of furniture" and 26.6% in "Manufacture of motor vehicles, trailers and semi-trailers". Milk and its products too were less expensive with inflation print of 4.21%, cereals and products at 2.10%, meat & fish at 3.31% while for eggs the prices grew at a slower pace of 8.51%. Inflation for the fuel and light category was at 6.80 per cent in February against 7.73 per cent in January.

UK officials told that Saudi Aramco IPO unlikely until 2019
Major General Ali al-Qahtani, a top aide to a son of the late King Abdullah, was among those held. The tour is aimed partly at courting foreign investors.


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