Figures released Tuesday by the U.S. Labor Department revealed that, on a year-over-year basis, the consumer price index rose 2.2%, a bit ahead of the 2.1% increase reported in January.
Consumer food prices rose 3.26 percent in February, compared with 4.70 percent in January, as prices of pulses fell more than 17 percent from a year earlier. The headline CPI reading of 2.2% in February was basically in line with expectations, but removing the food and energy components for a core annualized inflation reading of 1.8% was the victory. Economists had expected consumer prices to rise by 0.2%.
"Solid domestic economic momentum and the impulse from oncoming fiscal stimulus will underpin a gradual build in inflation toward the Fed's 2 percent target", said Gregory Daco, chief economist at Oxford Economics in NY.
Meanwhile, Ian Shepherdson, chief economist at Pantheon Macroeconomics, estimates core price inflation could rise to 2.1% in March from a year earlier. While the manufacturing sector grew 8.7% in January, compared with 2.5% in the same month past year, capital goods grew 14.6% and consumer non-durables 10.5% in the month under review.
The food index was unchanged, while prices for food at home decreased 0.2%. The index for all items less food and energy rose 1.8% over the past year, while the energy index increased 7.7% and the food index advanced 1.4%.
Ravens to Sign Wide Receiver John Brown
He had 1,003 yards and seven touchdowns in 2015, his second season, but didn't have more than 517 yards the past two seasons. The size of the deal for a player that has never had 600 yards receiving in a season raised some eyebrows around the league.
The CPI report came on the heels of data last Friday showing a deceleration in wage growth in February as well as a downward revision to January's increase in average hourly earnings. The capital goods sector continued to witness strong growth of 14.6% in January, although this was lower than the 16.44% seen in the previous month.
India's factory output grew at a robust pace for the third straight month, at 7.5% in January, while retail inflation surprisingly slowed for the second consecutive month to 4.4% in February, signalling that the economy may be set on a strong recovery path.
Analysts polled by Reuters had predicted February´s rate would ease to 4.8 percent from 5.1 percent in January. The RBI in its monetary policy review last month had estimated retail inflation at 5.1% for January-March 2018.
With a fall in vegetable prices and recent financial market developments, the report highlighted that a "Pandora's Box" has been opened for the RBI, awaiting its response. It expects gross value added - a key measure of growth - to increase 7.2 percent next fiscal year from 6.6 percent this year.
At a seasonally adjusted annual rate, the price index has gained 4.2 per cent so far this year, compared to a gain of only 3.3 per cent at the same point last year.
But they are just one loss ahead of the Denver Nuggets and San Antonio Spurs who now sit outside the post-season cutoff at 37-30. Corey Brewer contributed 16 points for the Thunder, who shot 45.2 percent from the field and were 16-of-36 from 3-point range.
Signature Estate & Investment Advisors LLC grew its position in shares of Berry Global Group by 17.7% during the third quarter. The rating was maintained by Mizuho with "Buy" on Friday, May 27. (NASDAQ:ROST) on Tuesday, August 8 with "Hold" rating.
According to the affidavit, Hari often stays at his parents' home because his home has no running water or electricity. However, the Twin Cities community showed compassion and came to the aid of those who worshiped in the mosque.
Unfortunately, he will miss the remainder of the season as recovery time for this surgery is now set at six-to-eight weeks. Los Angeles has 17 games left on its season and will play its last regular-season game April 11.
The biopharmaceutical company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.09. The stock of Ubiquiti Networks, Inc. 687.46 million shares or 1.13% less from 695.32 million shares in 2017Q2 were reported.
ValuEngine raised shares of Taiwan Semiconductor Mfg. from a "hold" rating to a "buy" rating in a report on Friday, February 2nd. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock.
On the all-time list, Westbrook is behind Jason Kidd (107 triple-doubles), Magic Johnson (138) and Oscar Robertson (181). This was a well-played and entertaining tilt, however, and Atlanta even held a 12-point lead going into halftime.
The U.S. president is demanding that Europe open itself more to American products, especially American food products like beef. To put that into perspective, that's about $470 billion - roughly the size of Thailand's output.
Summit to hold egg hunt on March 24
Children will be divided into three age groups for the hunt - 3 and under, 4-6 and 7-10 years old. The Easter Bunny will be hopping to the Kroc Center in Biloxi on March 24th.
Physicist Stephen Hawking Dies at Age 76
Many experts said Professor Hawking defied medical science by reaching his 70s with such a debilitating condition. He was given only a few years to live after being diagnosed with motor neurone disease in 1963 at the age of 22.
New Jersey Governor Doubles Down on Marijuana Legalization
Under his budget plan, incomes over $1 million would be taxed at 10.75 percent, up from the top bracket of 8.97 percent. And he is banking on about $110 million as a result of what he called technical changes to the corporate business tax.
New York Giants Sign Former Panthers Running Back
He did score six rushing touchdowns, but three of them came in a single game, against the Vikings in December. He departs Carolina as it's all-time leading rusher, tallying 7,318 yards over 10 seasons.