China factory-gate inflation jumps 6.9% in January

China factory-gate inflation jumps 6.9% in January

China factory-gate inflation jumps 6.9% in January

Among manufactured products, inflation rate for the "food products" group rose 0.4 per cent due to higher prices of maida and coffee powder, soyabean oil, rice bran oil, processed prawn and gur, copra oil, khandsari, wheat flour (atta), sugar, ghee and palm oil.

And with factory gate prices on the rise, there's signs that those upstream price pressures are now being passed on to consumers.

The consumer price index (CPI), a main gauge of inflation, grew 2.5 percent year on year last month, fractionally above market expectation of 2.4 percent, the National Bureau of Statistics announced Tuesday.

Responding to news of another rise in inflation, a spokesman for the Treasury said: "Employment has reached record levels and earnings have risen faster than inflation for more than two years".

The official beginning of Brexit, likely before the end of March, could trigger a heavy Pound depreciation against the Rand.

If inflation does get away from Mark Carney and co, a quicker and more severe rate rise than expected may be needed to rein it back in, which would have significant knock-on effects.

The pound has fallen against a weakened dollar, as a jump in inflation to 1.8% in January fell short of investor expectations but took another step towards the Bank of England's 2% target.

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United Kingdom inflation surged once again in January, coming within just 0.2 percentage points of its officially mandated target for the first time in more than two years, according to the latest data released by the Office for National Statistics on Tuesday.

However, core inflation-the inflation rate excluding food and fuel inflation-inched higher to 5.1 per cent in January 2017 from 4.9 per cent last month.

Rising inflation will probably help support nominal growth, according to Morgan Stanley.

"Wholesale inflation has gone up and this is due to the firming up of oil prices and select commodities such as basic metal alloys that are mirroring the global trends", said FICCI President Pankaj Patel.

Even though the retail inflation is well below Reserve Bank of India's target of 5 per cent, it is unlikely that the central bank will go for a rate cut in the coming months.

Strong consumer spending helped power growth in the final months of past year, with GDP expanding by 0.6 per cent in the fourth quarter, in line with the second and third quarters.

The MPC voted unanimously to keep rates on hold at 0.25% this month.

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