The consumer price index (CPI) based retail inflation rose to a four-month high of 5.52 per cent in March over 5.03 per cent in February on account of rising food prices as well as costlier fuel, though it remained within the comfort zone of the Reserve Bank of India (RBI). The Reserve Bank, which mainly factors in the retail inflation while arriving at its monetary policy, has been asked to keep CPI inflation at 4 per cent with a margin of 2 per cent on either side. In the year-ago month (March 2020), the retail inflation print stood at 5.91 per cent. The previous high CPI print was 6.93 per cent in November 2020. Besides, the food inflation as a category measured under the head ‘Consumer Food Price Index’ (CFPI) rose to 4.94 per cent during the month, as against 3.87 per cent in February 2021.
The National Statistical Office (NSO) under Ministry of Statistics and Programme Implementation in its data has showed that the Rural CPI (General) in March 2021 stood at 4.61 per cent as against 4.19 per cent in February. The Urban CPI (General) stood at 6.52 per cent in March as against 5.96 per cent in February. The index value for Rural, Urban and Combined CPI (General) stood at 156.7, 156.9 and 156.8, respectively, in March 2021.
The highest year-on-year increase in retail prices was witnessed in the ‘oil and fats’ segment, showing an increase of 24.92 per cent during the month. Inflation in case of ‘pulses and products’ was 13.25 per cent, up from 12.54 per cent. Likewise, in ‘meat and fish’ and fruits segments, it moved up to 15.09 per cent and 7.86 per cent, respectively. ‘Fuel and light’ inflation increased to 4.5 per cent in March this year from 3.53 per cent a month ago.
However, ‘cereals and products’ turned cheaper further with a negative print at (-) 0.69 per cent as against (-) 0.35 per cent. In vegetables basket too, the CPI remained in negative territory. The rate of price rise in protein-rich item egg was lower at 10.60 per cent from 11.13 per cent in February. Transport and communication costs spiked by 12.55 per cent in March, while healthcare costs were up by 6.17 per cent.
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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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