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etvfutures.com November 18, 2017


India Inflation Accelerates More Than Expected

14 November 2017, 02:19 | Cesar Cruz

Shoppers rush at a supermarket after Goods and Services Tax roll out in New Delhi

CPI Inflation for October 2017 today here's what analysts expect

Consumer food price inflation, a metric to gauge changes in monthly kitchen costs, saw a jump, with prices rising 1.90 percent in October from 1.25 percent in September.

The data on a YoY basis showed that vegetables in October became costly by 7.47 per cent, while prices of milk-based products rose by 4.30 per cent. Crucial services such as education, healthcare, personal care, etc have seen an inflation of 3.48 per cent.

Mumbai: Consumer inflation for the month of October surged to 3.58 per cent driven by housing, fuel, pan, tobacco and intoxicants prices.

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A study of government data suggests that the retail inflation would have been much higher if the price of pulses had not fallen by 23 per cent on account of bumper crop this year. Crude prices have rallied, sending Brent crude to its highest since June 2015, a worry given that India imports most of its energy needs.

The data comes at a time when analysts expect the GST Council decision on Friday to slash tax rates on 178 items to 18 per cent from 28 per cent could marginally lower retail inflation in coming months. Moreover, the pass-through of the goods and services tax (GST) to final prices of various goods and services may not be complete.

RBI said that inflation is expected to rise from its current level and range between 4.2-4.6% in the second half of this year, including the house rent allowance by the Centre. June was the first month the inflation fell outside the band since inflation targeting was first adopted by India.



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