Consumer inflation rises to 2.57 per cent in February

1 min read
IF

New Delhi: Government data showed that Consumer inflation stood at a provisional 2.57 per cent in February. As per an official statement Consumer inflation for January was revised downwards to 1.97 per cent, also its lowest level in 19 months, from 2.05 per cent. A poll by Reuters economists had predicted consumer price index at 2.43 per cent for February.

In February, Reserve Bank of India (RBI) reduced the repo rate by 0.25 per cent or 25 basis points. The central bank also changed its policy stance from ‘calibrated tightening’ to ‘neutral’. The repo rate – which is the key interest rate at which the RBI loans short-term funds to commercial banks – right now stands at 6.25 per cent.

The RBI has kept up a medium-term objective of 4 per cent for customer inflation, which it tracks essentially to define its policy. Customer inflation – decided by Consumer Price Index (CPI) – shows the rate of increase in consumer prices.

India’s industrial output in January rose 1.7 percent from last year; lower than forecast, government data showed on Tuesday. A growth of 2.0 per cent for January was predicted by a Reuters poll of economists.

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

(Except for the headline, this story has not been edited by The Kashmir Monitor staff and is published from a syndicated feed.)

Discover more from The Kashmir Monitor

Subscribe now to keep reading and get access to the full archive.

Continue reading

Don't Miss

ggg

Paradise calling: New survey says Kashmir most sought-after destination for solo traveling

Srinagar: Jammu and Kashmir is one of the most sought-after destinations for
RRR 1

RRR knocks out `The Kashmir Files’, earns Rs 257 Cr on Day 1  

S Rajamouli’s RRR (Roudram Ranam Rudiram) has knocked out `The Kashmir Files’