USA core inflation quickens amid higher housing costs

13 January, 2018, 03:50 | Author: Luis Fowler
  • Annual retail food inflation rose 4.96% in December from 4.35% in the previous month

India's consumer price inflation increased more than expected in December, figures from the Central Statistics Office revealed Friday.

On a cumulative basis, industrial output has clocked a slower rate of growth than last year growing at 3.2 per cent during April-November, the first eight months of this financial year, as against 5.5 per cent in the same period last year.

The Consumer food price index (CFPI) in December stood at 4.96 percent compared to the 4.42 percent of November 2017.

Over the past 12 months, overall inflation is up 2.1 percent while core inflation, which excludes volatile food and energy costs, rose 1.8 percent. Gasoline prices declined after a big jump in the prior month, outweighing the rise in winter fuel oil prices as a cold snap hit the Northeastern United States, the report said.

"CPI is lower than what I was expecting".

Indian consumer price inflation continued with its upward trend in December.

In terms of industries, 15 of the 23 industry groups in the manufacturing sector have shown positive growth during November 2017 as compared to the same month a year ago.

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Earnings for S&P 500 companies are expected to increase on an average by 12.1 percent in the quarter with profit for financial services companies likely to increase 13.2 percent, according to Thomson Reuters I/B/E/S. Other indices which saw a decline in December included apparel, airline fares, and tobacco.

"The economy is doing quite well right now. and well enough for the Fed to feel compelled to take steps to take the edge off before inflation truly becomes problematic", said Jim Baird, chief investment officer at Plante Moran Financial Advisors in Kalamazoo, Michigan.

Dallas Fed President Robert Kaplan told CNBC that he believes the unemployment rate could fall below 4 percent. This comes after a 0.2% increase in the previous month.

Sales last month were lifted by a 1.2 percent jump in receipts at gardening and building material stores and a 0.2 percent rise for auto dealerships. The cost of motor vehicle insurance increased 0.6 percent.

Advanced Micro Devices (AMD.O) fell 1.61 percent after the chipmaker said its microprocessors are prone to both variants of the Spectre security flaw, days after saying its risk for one of them was "near zero".

Electricity production grew 3.9 percent in November as compared with 3.2 percent in October.

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