India's inflation in January at 5.07%, IIP for December at 7.1%

INDORE, India - Feb. 13, 2018 - PRLog -- India's annual retail inflation slightly moderated in January to 5.07% from the 17-month high hit in December, as food prices went out, as per data from the Ministry of Statistics, on Monday.

After clocking the highest growth in seventeen months in November at a revised 8.8%, led by capital goods, the industrial production Index (IIP) remained strong in December 2017 at 7.1% as against 2.4% in December 2016.

CPI based inflation, which hit a seventeen-month peak in December at 5.2%, cooled down moderately in January at 5.07%, while Industrial production grew 3.7% in April-December 2017, down from 5.1% in the same period a year ago.

The RBI on 7th February kept interest rates unchanged and warned of risks from wider fiscal deficit. The Central bank also raised its March quarter Consumer Price Index (CPI) inflation forecast to 5.1 percent and projected an inflation range of 5.1 to 5.6 percent in the first half of the next fiscal year.

The data released by the CSO indicated that the rate of price rise for consumer foods eased to 4.7% in January, from 4.96% in December. Inflation in the vegetable slowed to 26.97% as against 29.13% in December.

Prices of fruits also rose at a lower rate of 6.24% last month, as against 6.63% recorded in the previous month. For the fuel and light segment, inflation was 7.73% last month against 7.90% in December.

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