Double whammy with IIP, Inflation

Double whammy with IIP, Inflation

The capital goods output declined by 3.4 per cent in February.

Output of intermediate goods went up by 1.0 percent and of capital goods, such as machinery, by 0.9 percent.

Overall, food inflation was at 1.85 percent as against 2.01 percent in February.

The manufacturing sector, which accounts for more than 75 percent of the index of industrial production (IIP), degrew -2 percent in February compared to 2.3 percent in January and 0.7 percent in February past year.

In terms of industries, 15 of the 22 industry groups in the manufacturing sector contracted during February.

Industrial production in Bulgaria saw 5% increase year on year in February. The cumulative growth for the period April-February 2016-17 over the corresponding period of the previous year stands at 0.4 percent.

The mining output rose by 3.3 per cent and that for electricity generation inched up by 0.3 per cent.




The non-durable consumer goods output shrank by 8.6 percent in the month over a contraction of 4.9 percent year ago.

Commenting on IIP data, FICCI president Pankaj Patel said: "The fall in the manufacturing sector".

Meanwhile, retail inflation rose marginally to 3.81 per cent in March from 3.55 per cent in February 2017.

India adopted an inflation target of 4% last year for a five-year period with a 2 percentage point tolerance band on either side.

The data comes soon after the monetary policy review last week when the Reserve Bank of India had retained the repo rate at 6.25 per cent due to upside risks to inflation and excess liquidity in the system.

CARE Ratings said that the worrisome feature is that non-food components still witnessed high rates: clothing 4.6%, fuel and light 5.6%, housing 5%, transport 6%.

On the inflation front, the increase was sharp for items such as sugar and fruits, while prices of vegetables and pulses actually dropped, according to the provisional data released by the Narendra Modi government on Wednesday evening.

Related news:

Hot News

isis-killer-beheading-video-story-top Trump says 'I like Steve' Bannon; won't definitively say he has confidence
Apr 13, 2017 - 02:24
Bannon interviewed Trump at least nine times in 2015 and 2016 and members of his family and campaign on many other occasions. Manhattan liberals including Cohen, Kushner and Ivanka Trump seem to have taken over the West Wing of the White House.

isis-killer-beheading-video-story-top Watch SNL lampoon the director of Kendall Jenner's doomed Pepsi commercial
Apr 13, 2017 - 02:20
It featured Kendal Jenner while taken with photo shoot to be with the group of people who are having a rally in the street. The law enforcer opened the top, took a gulp and is welcomed by the unusual yells of regard from the protesters.

isis-killer-beheading-video-story-top Everything you need to know about Doctor Who series 10 episode 3
Apr 13, 2017 - 02:18
There have been calls for Capaldi's replacement, after three years as the Time Lord, to be the first female Doctor . She's very interested in The Doctor and the way his mind works. "Maybe I've got more of an adult way of dressing".

isis-killer-beheading-video-story-top Akzo Nobel Accuses Elliott Advisors Of Planning To Share 'Price Sensitive Information'
Apr 13, 2017 - 02:17
Elliott countered by saying it would take Akzo to court over any refusal to hold a vote on the activist investor's proposal. The company, whose market value stands at about $21.1 billion, has said the offers are too low.

isis-killer-beheading-video-story-top Janet Jackson 'moved out of marital home a month ago'
Apr 13, 2017 - 02:17
Jackson, 50, and her husband are said to have agreed that things weren't working and opted to break up - according to TMZ . Janet married the businessman back in 2012, in an intimate ceremony.

isis-killer-beheading-video-story-top USA backs down on seeking anti-Trump user records
Apr 13, 2017 - 02:15
Customs and Border Protection (CBP) has withdrawn its March 13 summons, "and that the summons no longer has any force or effect". This is not the first time Twitter has filed suit in defense of its and its users' First Amendment rights.

isis-killer-beheading-video-story-top Jump at the pump continues
Apr 13, 2017 - 02:15
Nationally, the spike was not as dramatic, with the average at $2.389, up from $2.326 a week ago and $2.303 at this time in March. Roseville, CA- Roseville motorists aren't alone as seasonal pressure begins kicking gas prices higher around the country.

Sessions directs felony charges against repeat illegal immigrants
Apr 13, 2017 - 02:13
Undocumented immigrants who illegally re-enter the country after prior removal will be referred for felony prosecution. This is the first tour of the U.S. -Mexico border Sessions has made as the nation's top law enforcement officer.

isis-killer-beheading-video-story-top Burger King debuts Whopper ad that triggers Google Home devices
Apr 13, 2017 - 02:12
That phrasing prompts devices featuring Google's Assistant to wake up, and search the internet for information about the Whopper. It actually looks like Burger King went and edited the Whopper entry ahead of this ad being run.

isis-killer-beheading-video-story-top India's March retail inflation rises, February IIP falls
Apr 13, 2017 - 02:07
It has accelerated in recent months, pushed up in part by a weakening of the pound since last year's decision to leave the EU. But we don't think that that will panic the Monetary Policy Committee (MPC) into raising rates imminently.

isis-killer-beheading-video-story-top 'Only time will tell' on improving US-China trade
Apr 12, 2017 - 04:47
Some $347 billion of the $502 billion trade deficit recorded by the US past year was with China . South Korea's acting leader Hwang Kyo-ahn on Saturday held phone talks with U.S.

Sergio Garcia Wins The Masters, Ends Drought At The Majors
Apr 12, 2017 - 04:45
I still have a bunch of good years in me and this is one I hope I can knock off. "But I can live with that". Not enough of a kick, however, and he could only bunt the ball down the fairway and then wedge to 15 feet.

South Korean supporters of arrested ex-president to protest
Apr 12, 2017 - 04:42
Park emerged from her private home and quickly stepped into a auto before she was driven to the court in a motorcade. Park was accused of abusing her power, bribery, and illegally colluding with long-time friend Choi Soon-sil.

isis-killer-beheading-video-story-top Nationals place Turner on 10-day DL with strained hamstring
Apr 12, 2017 - 04:40
The hope was that Turner would be back sometime this week, but the youngster is going to take some additional time to heal up. Washington Nationals shortstop Trea Turner was placed on the 10-day disabled list with a strained right hamstring.

isis-killer-beheading-video-story-top Police and public join forces to remember London victims
Apr 11, 2017 - 09:30
The police officer killed in the Westminster terror attack died after being stabbed in the chest, despite wearing body armour. Moving pics show a policeman wiping away tears as officers flocked to the bridge to pay tribute - many holding white roses.