India's factory production in January up 7.5% over previous year

India's factory production in January up 7.5% over previous year

Retail inflation, measured by Consumer Price Index (CPI) is the main price gauge that the Reserve Bank of India (RBI) tracks. Most of the fall in inflation is on account of lower food and core inflation.

"Hence, it can be expected that RBI may not dilute its position on expected inflationary risks and is likely to maintain status quo during the April monetary policy".

The mining sector, however, was a laggard at 0.1% growth compared to 8.6% a year ago. It expects March CPI to soften further.

Furthermore, while the S&P lags its all-time high by 3.3 percent, the small cap and domestic focused Russell 2000 trails its by only 1.4 percent. The index rose 1.8% for the 12 months ending in February. Secondly, firmer input costs can push manufacturers to raise prices in a scenario of stronger demand. More people in the job market enables employers to fill jobs without necessarily having to boost pay, reducing inflation pressures.

(3.3% from 4.3%), and continuing deflation in pulses (at -17.3% from -20.2%). Volume is low as investors prepare for a week of major economic reports including consumer inflation, producer inflation, retail sales and building permits.

Citi believes that inflation could average around 4.6 percent in FY19.

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India's annual consumer price inflation remained steady in September from the. All things considered, those two months marked a peak in the rise in inflation. But, excluding the impact of housing, the rest of the core index also showed no change for the third month in a row.

"The General Index for the month of January 2018 stands at 132.3, which is 7.5 per cent higher as compared to the level in the month of January 2017", a Central Statistics Office (CSO) release said.

The overall recovery in the industrial growth will also bring a sigh of relief for the NDA government.

Factory output measured by the index of industrial production (IIP) is the closest approximation for measuring economic activity in the country's business landscape. "Although past year we faced a disconnect between the continued strengthening in the labor market and the step-down in inflation, mounting tailwinds at a time of full employment and above-trend growth tip the balance of considerations in my view", Fed Governor Lael Brainard said last week. Industrial growth is strong and comprehensive now, ' he tweeted.

On the other hand, the industry group "Manufacture of tobacco products" has shown the highest negative growth of (-) 46.5% followed by (-) 32.4% in "Other manufacturing" and (-) 13.2% in "Printing and reproduction of recorded media".

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