Posing challenge to the government and the central bank’s effort to rein in inflation, the retail or the Consumer Price Index (CPI) inflation for the month of April accelerated to 5.39 percent as compared to 4.83 percent in March, driven mainly by higher food costs. It was the first pickup in retail inflation since January, limiting the headroom for the Reserve Bank to lower rate in its next policy meeting.
As per the data released by the Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation the CPI (Rural, Urban, Combined) on Base 2012=100 in April stood at 6.09 percent 4.68 percent and 5.39 percent respectively compared to 5.29 percent 4.36 percent and 4.87 percent same period a year ago. Similarly Consumer Food Price Index (CFPI) for all India Rural, Urban and Combined stood at 6.58 percent, 5.97 percent and 6.32 percent respectively as against 5.03 percent 5.17 percent and 5.11 percent a year ago. The General Indices (Provisional) for the month of April 2016 for Rural, Urban and Combined were 128.9, 125.3 and 127.2 respectively. The CFPI for Rural, Urban and Combined for the same month were 131.2, 131.4 and 131.2 respectively.
The consumer food price inflation shot up to 6.32 per cent in April compared to 5.21 per cent in the month of March, as prices of pulses and sugar rose. Within the food basket, there has been increase in prices of various commodities, with Sugar inflation surging by 11.18 per cent in April due to increase in international sugar prices.
Apart from sugar, inflation in vegetables rose 4.82 per cent on month on month basis and fruit inflation jumped 1.66 per cent in April. Pulses inflation remained around 34 per cent in April, while meat and fish inflation increased by 8.07 percent, egg inflation increased by 6.64 percent. Inflation in spices was at 9.80 percent.
The rising retail inflation will add to worries of RBI Governor Raghuram Rajan as it takes into account the retail inflation figures while formulating monetary policy. RBI had earlier projected the CPI based inflation to moderate in 2016-17 to around 5 percent.
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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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