Gold Prices Push Into Positive Territory After In-Line Rise In US CPI

Manufacturing capital consumer goods push IIP growth to 7.5% retail inflation falls to 4.4

Retail inflation eases to 4-month low of 4.40%; factory output jumps to 7.5%

The Consumer Price Index (CPI) for all urban consumers increased 0.2 percent in February on a seasonally adjusted basis, in line with market consensus, the U.S. Labor Department reported Tuesday. Hourly pay rose a modest 2.6 percent in February from a year earlier, down from a 2.8 percent gain the previous month. After a sharp fall in December, analysts see a strong rebound in January's manufacturing orders with the yearly gauge surging by 5.3% y/y.

China's Consumer Price Index (CPI) saw an unexpected jump in February, rebounding to 2.9% year-on-year from 1.5% in January, its highest rate since November 2013, according to data released by the National Bureau of Statistics last week.

The CPI inflation for rural areas was 4.37% in February while for urban areas it was 4.52%.

Fuel and light inflation stood at 6.8%, compared with 7.58% in January, while housing inflation stood at 8.28%, from 8.33% the previous month. Apparel prices rose 1.5% on the month and transportation services increased 1%.

This is unedited, unformatted feed from the Press Trust of India wire.

"This easing appears to have come largely on the back of a slowdown in the food price inflation on account of one-off seasonal factors", Richa Gupta, senior economist and senior director, Deloitte India said.

However, the SBI noted that with March CPI around 4.4-4.5 percent, the Q4 actual CPI numbers could undershoot the Reserve Bank of India's (RBI) projections of 5.1 percent for the quarter by around 40-50 bps.

The MSCI All-Country World index of stocks, which tracks shares in 47 countries was less than 0.1 percent higher by 1305 GMT, with European stocks a fraction lower having started modestly higher. Economists had expected consumer prices to rise by 0.2 percent.

State-run SBI highlighted the risks of inflation targeting framework in its note, saying the mark-to-market losses incurred by banks due to tightening of rates on policy expectations have exposed it to risks on the financial stability front.

COMMODITIES: Oil prices edged higher at 1045 GMT following a suspension of crude loadings in a key port in Libya, despite concerns over rising U.S. oil production. Japan's benchmark Nikkei 225 per is down by 0.2 per cent, Hong Kong's Hang Seng is up by 0.2 per cent and Shanghai Composite is trading flat to positive at 7.21 hours IST.

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