Consumer prices rose 0.2 percent in February

A poll by Reuters economists had predicted consumer price index at 2.43 per cent for February

The retail inflation, based on the consumer price index (CPI), rose by 2.57 per cent in February 2019 as compared to the corresponding period previous year, said the data issued by the government on Tuesday.

Energy prices rose 0.4 per cent, the first increase in four months, as gasoline prices advanced 1.5 per cent. Food costs gained 0.4 per cent, the biggest increase since 2014.

Some economists expect inflation to pick up as the benefits of higher wages flow through the economy.

The Consumer Inflation or the Retail inflation for the month February 2019 stood at 2.57 percent as compared to 1.97 percent in January 2019.

India's retail inflation picked up in February but remained within the central bank's comfort zone while factory output weakened in January, which may give enough space for the Reserve Bank of India (RBI) to cut policy rates on 5 April.

Fed Chairman Jerome Powell had made clear on Friday that he and his colleagues are in no hurry to adjust interest rates as growth slows and inflation stays subdued. The core CPI had increased by 2.2% for three consecutive months on an annual basis. Customer inflation - decided by Consumer Price Index (CPI) - shows the rate of increase in consumer prices.

January's growth has been slower than the re-examined 2.6 percent year-on-year increase in December, the data showed.

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Apparel prices rose 0.3% from the prior month as men's and boys' apparel had a record increase of 3.4%, while women's apparel fell 1.6%, the most in nearly a year. Gas prices for U.S. drivers were $2.31 a gallon on average in February, up from $2.25 in January, according to the U.S. Energy Information Administration.

In the 12 months through February, the core CPI rose 2.1%.

"Consumer price inflation continues to be fairly tame".

Monthly inflation was 0.2 percent compared last month to January after being flat for three months, matching economists' expectations.

Owners' equivalent rent of primary residence, which is what a homeowner would pay to rent or receive from renting a home, increased 0.3 percent in February, as it did in January. The cost of doctor visits edged up 0.1 per cent last month. Prices of cereal and products went up at 1.32 per cent. The cost of communication services was unchanged in February for a third straight month. Prices fell for new (-0.2 m/m%) and used (-0.7% m/m) vehicles, prescription drugs (-1.0% m/m), and recreation (-0.4% m/m). I think we'll always be moving inflation back to 2 percent with our policy.

This article is for general information purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments.

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