Published: Thu, April 13, 2017
Markets | By Lucia Cruz

India's retail inflation rises to 3.81% in March

India's retail inflation rises to 3.81% in March

Consumer food price inflation, a metric to gauge changes in monthly kitchen costs, also moderated to 1.93 percent as compared with 2.01 percent in February.

"While food price inflation rose, from 0.3 percent to 1.6 percent, this was offset by a fall in core inflation from 2.0 percent to 1.8 percent".

In terms of month-on-month data, Chinese inflation fell 0.3 per cent, as compared to the 0.2 per cent dip in February.

Sterling crept up by around 0.14 per cent against the euro to 1.1731 following the news, and also lifted to 1.2432 against the U.S. dollar.

But house prices in London rose at their slowest pace in almost five years, increasing by 3.7 per cent.

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On a month-over-month basis, CPI fell 0.3% in March from a month earlier.

But he pointed to the UK's "underlying resilience" with jobs growing - and said while inflation was forecast to be higher this year it was expected to decline in 2018.

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The government targets around 3 percent inflation for the whole year of 2017 and inflation is still a far below the government's target range.

Economists said both the consumer and factory gate inflation were generally stable in March, allowing the People's Bank of China to maintain a relatively tight monetary stance.

Separate ONS figures published earlier this month revealed that household savings rates hit a record low as consumers plundered their nest eggs to keep spending despite rising inflation.

"Big picture remains a labour market with very strong employment plateauing at record highs. combined with a pay disaster", Torsten Bell, director of the Resolution Foundation think tank, said on Twitter.

The Office for National Statistics said that the rate of unemployment remained stable as expected in February at an 11-year low of 4.7%. Costs for health care, housing, transportation and communication all were seen rising. March sales growth disappointing but distorted by the later timing of Easter this year ... BRC (@the_brc) April 11, 2017 Inflation set in increase in April With Easter falling in April this year, inflation is likely to come under renewed pressure from airfares.

However, policymaker Kristin Forbes expressed concern about rising inflation and voted to raise rates.

The number of people in work increased by 39,000, taking the employment rate to 74.6 percent, a joint record high.

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