Easing at 33 month low, India's main inflation gauge, based on monthly WPI, stood at 2.78% for the month of September as compared to 3.74% in the previous month and 7.05% during the corresponding month of the previous year. The reading was way below the street expectation, which were expecting figure to be above 3% mark for the month under review. However, July inflation figures were revised upwards to 5.41% from 5.19% earlier. Meanwhile, build up inflation rate in the financial year so far was 2.61% compared to a build up rate of 6.23% in the corresponding period of the previous year. The reading which was lowest since October, 2009 was mainly on the back of lower food and fuel inflation.
Fuel & Power index, which occupies 14.91% weight in the overall index, declined by 0.3% to 213.4 (provisional) from 214.0 (provisional) for the previous month due to lower price of petrol (4%), bitumen (2%) and aviation turbine fuel and furnace oil (1% each). However, the price of lubricants (4%) and high speed diesel (1%) moved up. Meanwhile, the index of Manufactured Products, which occupies the majority 64.97% weight in WPI index, rose by 0.2% to 175.1 (provisional) from 174.7 (provisional) in August.
Additionally, Primary Articles index, which occupies 20.12% weight in the overall headline index, declined by 1.3% to 258.2 (provisional) from 261.7 (provisional) for the previous month. Out of the index, 'Food Articles’ group declined by 1.4% to 261.8 (provisional) from 265.4 in the previous month, while index for ‘Non-Food Articles’ group declined by 2.00% to 214.3 (provisional) from 218.7 for the previous month.
The latest data adds to signs of RBI considering the case for rate cut in its upcoming monetary policy since central bank takes into consideration both Retail and WPI inflation while deciding upon its monetary policy. Earlier, in an encouraging development, India’s consumer price inflation eased at an all time low level since the launch of the new series of Consumer Price Index in 2012, at 6.46% in September as compared to 7.80% in August, helped by the lower prices of food and fuel.
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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