India's factory output soars to a 25-month high in November

India's factory output soars to a 25-month high in November

If it's here to stay the Fed will not raise interest rates too high and may stop raising them altogether quite soon; if not it will probably continue raising them for quite some time, and raise them to a higher endpoint level - or terminal rate as it's called.

After November's 15-month high of 4.88 per cent, consumer price inflation likely climbed to 5.10 per cent, which would the highest since July 2016, according to the median in the poll of almost 40 economists over the past week.

India's industrial output hit a 25-month in November, soaring 8.4 percent led by robust growth in manufacturing, as well as inventory rebuilding after the festive season.

"Given that the MPC responded to the period of transient "low" inflation with only one rate cut of 0.25 per cent cut in August 2017, we do not expect it to commence hiking rates unless the CPI inflation is forecast to persist above 5 per cent for at least two quarters", she added.

The Consumer food price index (CFPI) in December stood at 4.96 per cent compared to 4.42 per cent in November 2017.

Fuel and light inflation rose by 7.90 per cent in December.

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Paddle shifters mounted on the steering wheel , meanwhile, will allow drivers to manually shift the gears of the new Ford Edge ST. In fairness, it probably won't come to the United Kingdom but America should lap it up - or at least that's what Ford is hoping.

Retail inflation on a YoY basis edged higher due to a rise in the prices of food items like vegetables, milk-based products, eggs, meat and fish.

The dollar trimmed losses against a basket of currencies after the data. Meanwhile, the IIP growth for October 2017 has been revised downwards to 2% from the provisional estimates of 2.2 released last month. Over the past 12 months, food prices are up 1.6%. It increased borrowing costs three times in 2017.

In addition, low energy prices seen in the final month of the year are unlikely to be sustained, economists say. That lowered the year-on-year increase in the CPI to 2.1 per cent from 2.2 per cent in November.

The 2-year rate, sensitive to changes in monetary policy, popped higher to 2.014%, from 1.972% late Thursday, according to Tradeweb. Apparel prices were down 0.5% last month, making it the fourth straight decline. For the six months through March, the RBI slightly raised its inflation projection - already above its 4 percent medium-term target - to 4.3-4.7 percent.

In a separate report on Friday, the Commerce Department said retail sales rose 0.4 percent last month.

The output of primary goods grew by 3.2 per cent, while that of intermediate goods rose by 5.5 per cent. Sales at auto dealerships rose 0.2 percent. The PCE price index was up 1.8% in November from a year earlier, and prices excluding food and energy rose 1.5% on the year. These so-called core retail sales correspond most closely with the consumer spending component of gross domestic product.

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