Economy

India's factory output rises, so does inflation

India's factory output rises, so does inflation”

According to CPI data published by the Office for National Statistics (ONS) the UK's inflation rate leapt from 2.6 per cent to 2.9 per cent last month, outpacing expectations it would only reach 2.8 per cent and reaching its highest rate since May.

Consumption-driven demand and seasonal factors pushed India's factory output higher - but retail inflation also rose along with, official data showed on Tuesday.

The rise in inflation was led by a spike in food prices, as on sequential basis, the country's Consumer Food Price Index (CFPI) rose to 1.52 per cent during August when compared to the previous month.

On a monthly basis, consumer prices grew 0.6% in August, just above the 0.5% gain expected by economists.

The index of industrial production (IIP) growth was 4.5 percent in July 2016.

India's economic growth unexpectedly slowed to 5.7% in the June quarter, the slowest pace in three years, underlining the disruption caused by the uncertainty related to the rollout of the goods and services tax (GST) even as the Indian economy is struggling to recover from a shock demonetisation.

Separate data from the CSO showed that industrial production grew 1.2 percent year-on-year in July, which was slightly slower than the 1.6 percent growth economists had predicted.

Inflation rose in both Britain and the EU overall, with increasing global commodity prices thought to be partly responsible, although the United Kingdom rate is higher than in all the larger western European nations.

Meanwhile the U.S. dollar may slip later this afternoon with the release of the latest JOLTs job data, with an expected dip in job openings in July likely to weigh on market sentiment.

"It is also interesting to note that the Retail Prices Index (RPI) 12-month rate in August 2017 was 3.9% - good news for members of occupational schemes with RPI "hard-wired" into their scheme rules and those people with annuities providing RPI-based increases", he added.

However, items such as cereals and products, meat and fish, oils and fats became cheaper at inflation prints at 3.87 per cent, 2.94 per cent and 1.03 per cent, respectively.

But the August inflation figure remains below RBI's medium term target of 4 per cent.



Like this

loading...
loading...

Latest


13 September 2017
PHH Corp (NYSE:PHH) Sees Significantly Higher Trading Volume
Zacks Investment Research upgraded shares of PHH Corp from a "sell" rating to a "hold" rating in a report on Saturday, July 22nd. This repurchase authorization authorizes the credit services provider to buy up to 26.9% of its stock through a dutch auction.

13 September 2017
Olive Garden's New Never Ending Pasta Pass Is Better Than Ever
The itinerary is still being finalized, but will start and end in Rome and include stops in Florence, Assisi, and Siena. And yes, that does mean airfare, hotel and all kinds of Italian excursions for two people for just an extra $100.

13 September 2017
Which Way Are Insiders Leaning With McKesson Corporation (NYSE:MCK)?
Its share price has risen 2.56% in three months and is down -0.98% for the last five trades. 9,372 are owned by Us Bancshares De. The company had a trading volume of 1,348,860 shares. (NNN) has declined 14.81% since September 12, 2016 and is downtrending.

13 September 2017
BidaskClub Upgrades Bonanza Creek Energy, Inc
BidaskClub lowered Bonanza Creek Energy from a sell rating to a strong sell rating in a research report on Monday, July 24th. It improved, as 55 investors sold TJX shares while 372 reduced holdings. 9 funds opened positions while 13 raised stakes.

13 September 2017
Wolff sees big challenge ahead for Mercedes
It's about understanding the vehicle and the more we clock mileage the more we learn about it. Sometimes, characteristics like this are simply in the DNA of a auto .

12 September 2017
United Continental Holdings, Inc. (NYSE:UAL) Chalking Up Volume in Session
Market capitalization is calculated by multiplying a company's shares outstanding by the current market price of each share. Envestnet Asset Mngmt holds 66,256 shares or 0.02% of its portfolio. 195,800 were accumulated by Comerica National Bank.

12 September 2017
Russian defense minister holds talks with Assad
The sides also discussed the stabilization of the situation in Syria, the safe zones as well as the humanitarian assistance to the Syrians.

12 September 2017
Boeing to Help SES Build 7 Medium Earth Orbit Satellites
Last year, SES took over majority ownership of O3b Networks, which now has 12 first-generation satellites in a 5,000-mile-high orbit.

12 September 2017
Splunk Inc. (NASDAQ:SPLK) Short Interest decreased by -6.56% - Currently Trading Down
Eleven equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. The stock declined 0.59% or $0.4 reaching $67.81 on the news. 373,727 shares of the company's stock traded hands.

12 September 2017
Brokers Change Their Target Price On The Travelers Companies, Inc. (NYSE:TRV)
Following the sale, the insider now directly owns 229,254 shares of the company's stock, valued at approximately $26,134,956. The Company's segments include Business and International Insurance; Bond & Specialty Insurance, and Personal Insurance.