Retail inflation jumps to 7-month high of 3.6% in October

15 November, 2017, 01:08 | Author: Terri Saunders

Even without the recent rate hike, which can dampen down inflation by choking off some demand in the economy, inflation is expected to moderate over coming months as the pound-related price increases drop out of the annual comparison. That was its first increase in a decade and was due to the fact that inflation has spiked sharply higher since Britain voted in June past year to leave the European Union, a decision that prompted a sharp fall in the value of the pound.

As per the ministry's data, retail inflation on a YoY basis edged higher due to a rise in the prices of food items like vegetables, milk-based products, cereals, meat and fish. The rate was 4.2% in October 2016.

The government data released today showed that inflation in food articles more than doubled to 4.30 percent in October.

Thousands protest in Yemen against Saudi-led blockade
United Nations, however, dismissed Saudi demand. "The humanitarian impact of what is happening here right now is unimaginable", Mr.


The price rise in services appear to have been impacted by the implementation of GST as most services are taxed at 18 per cent compared to 14.5 per cent under the previous service tax regime.

Soumya Kanti Ghosh, Group Chief Economic Adviser of the State Bank of India, said in the SBI Ecoflash report: "Compared to September 17, the increase in food, fuel and housing prices contributed to the increase in overall inflation. Similarly, the policymakers should check and address prices of products, including paddy, that are hovering at higher levels and are also of national importance", said Rawat. Crucial services such as education, healthcare, personal care, etc have seen an inflation of 3.48 per cent. "However, cut in excise duty announced by the government tempered the price increase in fuel". Economists said they expect the RBI to hold rates. "However, the RBI rate decision may still predicate on the Fed trajectory".

Kate Smith, head of pensions at Aegon, warned people are facing a "triple whammy" of squeezes in their purse: high inflation, little sign of wage growth and rising interest rates.

Recommended:

  • Key Liverpool defender to miss three months of action

    Key Liverpool defender to miss three months of action

    Jurgen Klopp's confirmed that Liverpool now need to run tests on Mane to determine how bad his setback is. He played the full 90 minutes for Senegal in their 2-0 victory over South Africa.
    Half of USA  adults have high blood pressure in new rules

    Half of USA adults have high blood pressure in new rules

    The new guidelines eliminate the prehypertension category. "Rather, it brings to light the need to make lifestyle changes". In terms of lives, the change translates to a 14% increases in the number of adults classified with high blood pressure.
    Outrage mounts over Meek Mill's prison sentence

    Outrage mounts over Meek Mill's prison sentence

    McMonagle said Brinkley has 30 days to respond to the motions filed Tuesday. Louis airport and a traffic violation in Manhattan involving a motorbike.
  • Debate is settled, Rosogolla originated in West Bengal

    Debate is settled, Rosogolla originated in West Bengal

    He was trying to come up with a new sweet for a number of years before he came up with it , As Reported By Hindustan Times . Kolkata: A view of different varieties of "rosogollas" - a spongy, syrupy sweet at a sweet shop in Kolkata on Nov 14, 2017.
    Zuma has no plans to free education programme

    Zuma has no plans to free education programme

    It said the priorities in the Community Education and Training (CET) sector, TVET colleges and universities needed to be balanced. On Monday, the Presidency announced it would release the highly anticipated report .
    DC Comics editor fired after BuzzFeed report exposes multiple sexual assault complaints

    DC Comics editor fired after BuzzFeed report exposes multiple sexual assault complaints

    He now oversees editing of the Superman and Green Lantern titles, as well as the current Dark Nights: Metal event. The firing comes after another BuzzFeed News report first detailed the allegations from two former DC employees.
  • GOP lawmaker: Male lawmaker exposed himself to staffer

    GOP lawmaker: Male lawmaker exposed himself to staffer

    A petition calling for Congress to make training mandatory has gained more than 1,500 signatures from former Hill staffers. Comstock did not name the member of Congress, whose name wasn't disclosed to her.
    Google Assistant Can Now Act as an Intercom

    Google Assistant Can Now Act as an Intercom

    Starting today, you can broadcast your voice from your Assistant on your phone or voice-activated speaker, like Google Home . The update is rolling out to users in the U.S., Australia, Canada, and the United Kingdom with Homes set to English.
    U.S.  delegation headed to Israel to discuss Syria border deal

    U.S. delegation headed to Israel to discuss Syria border deal

    Speaking later on Monday in Parliament, Mr Netanyahu said some of Israel's Arab neighbours shared its concerns . Netanyahu's words come two days after a meeting between U.S.
  • AWS Sells Chinese Cloud Assets Amid Tightening Regulations

    AWS Sells Chinese Cloud Assets Amid Tightening Regulations

    Global firms in China, including Apple Inc , have this year transferred data to Chinese ventures overseen by local authorities. Sinnet owns eight data centres with more than 40,000 racks, according to its listing on AWS's partner directory .
    Woman techie set ablaze by spurned youth in Chennai

    Woman techie set ablaze by spurned youth in Chennai

    He forced the girl and her family members to open the door by threatening them of committing suicide by setting himself on fire. Police said they detained the suspect, 23-year-old Akash, who was pursuing Induja against her wishes for almost a month.

    A special counsel to investigate Clintons?

    Trump is frustrated with the continuing investigations into Russia's election meddling and possible ties to his campaign. Since Mueller's probe began, numerous Trump advisors have acknowledged interactions with Russian intermediaries.


Popular

EgyptAir Signs Deal With Bombardier
If the Egyptian airline buys all 24 aircraft the value of the contract could soar to almost $2.2 billion. The CS300 is the larger version of Bombardier's C Series aircraft.

Manus Island activists locked to gates of Australian high commission in Wellington
More than 600 refugees and asylum seekers have barricaded themselves inside the mothballed detention center on the island. One of Malcolm Turnbull's Ministers Matt Canavan has described it as a publicity stunt by Jacinda Ardern .

First Digital Pill Approved by FDA Includes Medication Sensor
U.S. regulators have approved the first pill with a sensor, which can track whether or not patients have taken their medicine. Aripiprazole is used to treat multiple mental mood disorders, including bipolar disorder and schizophrenia.

Hole punching machine celebrates 131st anniversary with a Google doodle
Another type of hole puncher is the single hole puncher, which is primarily used to punch tickets. A year later the first decorative paper puncher was launched, bringing a new trend in the market.

India Joins 'Quadrilateral' With Australia, Japan and USA to Limit China's Intrusion
Joint Secretary (South division) in the MEA, Vinay Kumar and Joint Secretary (East Asia) Pranay Verma attended the meeting. Beijing is been accused by US, Japan and other nations of undermining the "rules-based order" in Indo-Pacific.

A Hitman TV series and two games are in development
Fox 21 and Hulu are partnering for a new television series based on IO Interactive's Hitman video game series. Kolstad was the man behind the original John Wick screenplay and a planned third movie in the hit franchise.

Twitter reacts to Patriots' rout of Broncos
Osweiler's touchdown pass was caught by Demaryius Thomas , whose seven-yard catch trimmed the margin to 27-16. New England won for the sixth time in that span. "He goes over assignments over and over again", Joseph said.

Vive Focus, its first standalone VR headset, goes "world-scale"
At the moment, the device, which was initially teased at Google I/O 2017 in May, will be available exclusively in China. The demos of the HTC Vive Focus reveal that the potential is there but a lot comes down to the quality of the apps.

Aditi Rao Hydari comes out in defence of Sanjay Leela Bhansali
Surrounding by controversies, the movie is yet to see proper promotion and Shahid wants audiences to give the movie a chance. Kapoor, who plays Maharawal Ratan Singh in the film, said to The Hindu , "I've been saying this since a long time".

Launch of Idaho's first satellite postponed
This interagency effort (JPSS) is the latest generation of US polar-orbiting, non-geosynchronous environmental satellites. NASA develops and builds the instruments, spacecraft and ground system and launches the satellites for NOAA.