IIP, inflation data to steer market this week

Mae Love
March 12, 2018

The industrial production also expanded by 7.5 per cent in January 2018 compared to 3.5 per cent in the same month a year ago.

16 out of the 23 industry groups (asper 2-digit NIC-2008) in the manufacturing sector have shown positive growth during the month of January 2018 as compared to the corresponding month of the previous year.

Meanwhile, the Consumer Price Index inflation for February fell to 4.44% for February 2018 compared to the same month in 2017.

According to the data released on Monday, food inflation was at 3.26 per cent in February.

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India's annual industrial output grew 7.1 percent in December, data. In February 2017, however, it was 3.65%.

As per Use-based classification, the growth rates in January 2018 over January 2017 are 5.8% in Primary goods, 14.6% in Capital goods, 4.9% in Intermediate goods and 6.8% in Infrastructure/ Construction Goods.

Retail inflation, which is an indicator of price rise has cooled down to a four-month low, since it was recorded at 4.88 per cent in November 2017. It was 4.88 percent in November a year ago. However, the mining sector saw a flat growth of 0.1% compared to 8.6% a year ago. It was at 5.07 percent in January.

Milk and its products too were less expensive with inflation print of 4.21 percent, cereals and products at 2.10 percent, meat & fish at 3.31 percent while for eggs the prices grew at a slower pace of 8.51 percent. "Inflation is expected to come down to 4.74 per cent in February which will ease bond yields in the near term", said Vinod Nair, Head of Research, Geojit Financial Services.

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