Global News

Inflation drops to 15.1 per cent in January - NBS

Inflation drops to 15.1 per cent in January - NBS

Today's numbers showed consumer price inflation held at an annual rate of 3% in January, unchanged from the month before and above a consensus forecast of 2.9%.

Month-on-month, output prices edged up 0.1 percent and input prices climbed 0.7 percent. The index for all items less food and energy rose 1.8% over the past year, while the energy index increased 5.5% and the food index advanced 1.7%.

Samuel Tombs, chief United Kingdom economist at Pantheon Macroeconomics, said that data was likely to show inflationary pressures easing: "CPI inflation still looks set to fall sharply this year, as the anniversaries of sharp sterling-related rises in core goods, food and energy prices are met".

The ONS also said the largest downward contribution to the rate came from prices for motor fuels, which rose by less than they did a year ago.

It's a big reason investors have dumped stocks and bonds in the past two weeks.

With markets, especially stocks, already on tenterhooks about the potential for a sharp lift in inflationary pressures following an acceleration in wage pressures in January's U.S. non-farm payrolls report, it carries the potential to either calm those fears or make them a whole lot worse. It's a sharp shift from previous year when consumer price growth slowed, even as the economy grew and the unemployment rate fell.

Narendra Modi, ML Khattar ensured corruption-free governance: Amit Shah
The bike rally was led by BJP president Amit Shah , who rode pillion to the party's state unit chief Subhash Barala. Acording to reports, hundreds of bikers wearing saffron colour helmets, clothes were on bikes on the way to Jind .

"Of itself, inflation, particularly driven by higher demand, is not necessarily negative for equities", said Rick Meckler, president of LibertyView Capital Management in Jersey City, New Jersey. Unsurprisingly the selloff in the USA equity markets also resumed, the Dow futures and the S&P futures were trading down just shy of 1% within half an hour of the release, however we are starting to see signs of those losses being pared with both the Dow & S&P futures down some 0.75%. That sparked a market sell-off that sent stock indexes down 10 percent before rebounding this week. Women's apparel costs jumped a record 3.4 percent, the report showed.

Gasoline prices rose 5.7 percent last month, pushing up the headline index.

After registering a 17-month high growth of 8.8 per cent in November, India's industrial production expanded at 7.1 per cent in December.

However, even if in line with its expectations, it would still act to push core CPI higher on a six-month annualised basis, helping to cement the view that inflationary pressures are indeed building towards the Fed's 2% target.

"To the extent markets had been dismissing the idea that inflation could firm, that was a mistake". Core inflation might be below 2 percent for now, but that in part is because of comparisons to hot inflation readings at the start of 2017, stated TD Economics in a research report.


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