The chart shows that the monthly core numbers have recovered from their spring  summer weakness Pantheon Macroeconomics

The CPI Inflation, a measure of retail inflation, rose to 5.21% yoy in December 2017, 17 months high, due to rising food inflation and fuel inflation.

"The three-month annualized change in the core CPI increased to 2.5 percent in December and is up markedly from the low of this year, zero percent, in May, providing further evidence that the earlier soft patch was only transitory", Mickey Levy of Berenberg Capital Markets said in a research note.

"It supports our view that the Fed will ultimately increase interest rates by a more aggressive 100 basis points cumulatively this year", said Paul Ashworth, chief US economist at Capital Economics in Toronto. It raised borrowing costs three times in 2017.

Retail inflation in India rose to 5.21% in December 2017 compared to that in December 2016, data released by the Ministry of Statistics and Programme Implementation showed on Friday.

The hardening of the CPI inflation in December 2017 was led by the sharp jump in inflation for housing, as well as a base-effect led uptick in food inflation, with a limited impact of the cut in GST rates, said ICRA today.


Sales at online retailers soared 1.2 percent in December.

Bank stocks also gained from a rise in Treasury yields after underlying US consumer prices for December posted their biggest gain in 11 months, signaling a pickup in inflation. The BLS also stated that the 0.4 % increase in the shelter index accounted for merely 80 % of the 1-month all items increase.

Indian consumer price inflation continued with its upward trend in December.

Consumer durables output grew 2.9 percent in November, against a contraction of (- 6.9 percent) in the month before, indicating a revival in demand. The cost of motor vehicle insurance increased 0.6 percent.

The Nasdaq Composite .IXIC was up 42.49 points, or 0.59 percent, at 7,254.26.


But apparel prices fell for the fourth consecutive month, and airline fares fell 0.5 percent after a 2.4 percent drop in November.

Excluding automobiles, gasoline, building materials and food services, retail sales increased 0.3 percent last month after an upwardly revised 1.4 percent surge in November.

Electricity generation growth too slowed to 3.9% in November from 9.5% in the corresponding month a year ago.

"While the increase in spending wasn't as broadly based as one would like, the show of strength in recent months is a testament to the strong financial tailwinds, relating to wealth, income and credit, pushing on consumer backs", said Sal Guatieri, senior economist at BMO Financial Group.


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