CPI inflation eases to four-month low of 4.44% in February 2018
CPI inflation eases to four-month low of 4.44% in February 2018
Illustration image of Mandi market
12 March, 2018, 19:22
The industrial production also expanded by 7.5 per cent in January 2018 compared to 3.5 per cent in the same month past year.
High on the strong growth seen in the manufacturing sector, India's industrial production registered 7.5 per cent growth in January, the data released by the Central Statistics Office stated on Monday.
Retail inflation, measured by Consumer Price Index (CPI) is the main price gauge that the Reserve Bank of India (RBI) tracks.
The manufacturing sector grew at 8.7%, followed by electricity at 7.6%.
Major indicators of CPI eased down in the February 2018 month, with food & beverages at 3.38%, pan, tobacco & intoxicants at 7.34%, clothing & footwear at 5%, housing at 8.28%, fuel & light at 6.68% and miscellaneous at 3.85%.
Inflation softened last month mainly on account of cheaper food prices and lower cost for fuel.
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On an annual basis, the main CPI probably rose 2.2 percent from a year earlier, up from 2.1 percent in January, while the core index's gain was unchanged at 1.8 percent, according to median estimates.
The January IIP was also boosted by a higher offtake of consumer and capital goods.
Interms of industries, sixteen out of the twenty-three industry groups in the manufacturing sector have shown positive growth during the month of January 2018 as compared to the corresponding month of the previous year.
"It would be safe to assume that a lot of advantage has accrued because of the low base effect of the previous year when the growth had plunged following the demonetisation, said Assocham Secretary General D.S. Rawat in a statement". Primary goods saw growth accelerating to 5.8% in January from 3.73% in December.
Capital goods, a barometer of investments, showed a sharp increase in output by 14.6 per cent in January 2018 against a decline of 0.6 per cent year ago. "However, the momentum of the recovery needs to be sustained through effective implementation of the structural and infra related reforms".
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