The pound has fallen after inflation held steady in October

15 November, 2017, 02:03 | Author: Salvatore Jensen

Meanwhile following the latest inflation data, "there was a very slight initial drop in the value of sterling as markets anticipate that inflation may not peak beyond 3.0 percent and future interest rate rises may not therefore need to be imminent", Richard Stone, chief executive at stockbrokers The Share Centre, said in a note to clients.

The retail inflation rose up to seven-month high to 3.58 in October due to the high prices of food items, especially vegetables, eggs, milk and their products, and tobacco products and housing sector. It was (-) 22.51 per cent in September.

The Consumer Price Index (CPI) for October has went up by 3.58 per cent in comparison to same period past year.

The Retail Price Index (RPI), a separate measure of inflation, was 4% last month, up from 3.9% in September. However, fruits were comparably cheaper in October on a sequential basis.

Sub-category of food and beverages during the month under consideration recorded a rise of 2.26 per cent over the same period previous year.




In October, inflation rate for the food basket increased to 1.9 per cent from levels of 1.25 per cent in September.

Fall in pulses price keeps rise modest; housing, fuel up.

Ratings agency Crisil said: "In the months ahead, inflation could see an upside from further rise in oil prices and higher household spending led by implementation of farm loan waiver and an expected upward revision in salary and allowances of state government employees". "Our quantitative analysis suggests that if (a big if) the GST tax changes are fully passed on to consumers, they would lower CPI inflation by estimated 20 basis points", Nomura said.

Retail inflation has been steadily rising since June, when it eased to 1.46 per cent - its slowest pace since India started releasing such figures in January 2012, based on combined data for rural and urban consumers.

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