Retail inflation eases to 2.05% in January

Retail inflation eases to 2.05% in January

Retail inflation eases to 2.05% in January

January inflation missed economists' expectations and the central bank's target of 2 per cent.

A fall in electricity, gas and other fuels drove the decline, the ONS said.

The core inflation also fell to 5.4 per cent in January from 5.7 per cent in December alleviating some concerns over stickiness in non-food, non-fuel inflation. Please refresh the page for the fullest version.

Consumer durables output grew by 2.9 per cent as against a growth of 2.1 per cent in December 2017.

The Retail Prices Index (RPI), a separate measure of inflation, was 2.5 per cent, down from 2.7 per cent in December.

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Inflation peaked at a five-year high of 3.1% in November 2017, above the level of pay growth for British workers, although it has gradually fallen.

Inflation (blue line) plunged to 1.8 per cent in January the lowest rate for two years, official statistics revealed today.

Prices of vegetables stood at (-) 13.3 percent versus (-) 16.14 percent a month ago while pulses contracted (-) 5.5 percent in January from (-) 7.13 percent a month ago.

India's consumer prices rose at a milder pace than anticipated in January and remained below the Reserve Bank of India's target for a sixth straight month, strengthening views it could again cut the key interest rate at its next policy review in April.

India's economy is slowing, hit by reduced growth in consumer spending and in the farm sector.

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Experts said headline CPI is expected to stay benign in the coming months and provides room for further rate cut by the RBI.

The biggest ever monthly fall in gas prices since comparable records began in 1988 coincided with the start of energy regulator Ofgem's cap on household bills. However, the conundrum of sharp spikes in rural health and education prices still remains and requires watching.

Viral Acharya, the RBI's deputy governor in charge of monetary policy who was among those who sought to keep rates unchanged, has in the past pointed to core inflation as being a more reliable indicator.

"US CPI for January is due out this afternoon".

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