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EcoScope Back

The Economy Observer: Macro data in line with expectations

12-Feb-2018

CPI inflation eased marginally to 5.1% in January 2018 from 5.2% in the previous month - in line with our/consensus estimate of 5%/5.1%.
Food inflation eased to 4.7%, led by a fall in inflation in fruits & vegetables and sugar & confectionary. Core CPI remained unchanged at 5%, even as inflation in 'core services' picked up slightly to 3.8%.
IIP rose by a healthy 7.1% in December 2017, higher than our/consensus expectation of +6%. Consumer non-durables and capital goods grew in double-digits, aided by a favourable base, leading to a surge in IIP.

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