India April Inflation Rate Above Expectations

India's annual inflation rate rose to a three-month high of 4.58 percent in April 2018 from 4.28 percent in the previous month, and above market expectations of 4.42 percent.

Prices rose at a faster pace for: housing (8.50 percent vs 8.31 percent in March); clothing and footwear (5.11 percent vs 4.91 percent); pan, tobacco and intoxicants (7.91 percent vs 7.79 percent); and miscellaneous (4.96 percent vs 4.16 percent).

Meanwhile, food and beverages inflation was nearly flat at 3.00 percent (vs 3.01 percent in March), with the food index alone rising 2.80 percent (vs 2.81 percent in March). Upward pressure came from: fruits (9.65 percent vs 5.78 percent); vegetables (7.29 percent vs 11.70 percent); eggs (6.26 percent vs 7.47 percent); prepared meals, snacks, sweets etc. (4.85 percent vs 4.44 percent); meat and fish (3.59 percent vs 3.17 percent); milk and products (3.21 percent vs 3.52 percent); oils and fats (2.11 percent vs 1.85 percent); non-alcoholic beverages (1.73 percent vs 1.42 percent); and spices (1.25 percent vs -0.07 percent). On the other hand, prices fell for both pulses and products (-12.35 percent vs -13.41 percent) and sugar and confectionery (-4.05 percent vs -1.61 percent). In addition, fuel and light inflation softened to 5.24 percent in April from 5.73 percent in the previous month.

The corresponding provisional inflation rates for rural and urban areas were 4.67 percent and 4.42 percent, compared with March's figures of 4.44 percent and 4.12 percent respectively.

On a monthly basis, consumer prices increased 0.44 percent in April, after a 0.07 percent gain in March.

India April Inflation Rate Above Expectations

Joana Ferreira |
5/14/2018 1:33:01 PM