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<ul><li>The fall in <keyword id="513422" type="General" weightage="20" keywordseo="retail-inflation" source="Orion">retail inflation</keyword> in February is mainly due to reduction in prices of meat and fish, egg, vegetables, pulses, and sugar.</li><li>Prices of fruits, clothing and footwear, education, transportation, health and household went up.</li></ul>Retail inflation for February 2023 fell marginally to 6.44 per cent compared to 6.52 per cent in January 2023 as commodity prices witnessed a slight slide. Food inflation also slid to 5.95 per cent in February 2023 compared to 6 per cent in January. Consumer price index (CPI) based inflation had touched 6.52 per cent in January 2023, which was a three-month high owing to higher food prices. However retail inflation was 6.07 per cent in February 2022, and therefore CPI-based inflation in February 2023, at 6.44 per cent, was higher compared to the year-ago period. The marginal fall in retail inflation in February 2023 was mainly due to reduction in prices of meat and fish, egg, vegetables, pulses, and sugar. At the same time though, prices of fruits, clothing and footwear, education, transportation, health and household goods went up in February 2023 compared to January 2023.

Retail inflation sees marginal fall to 6.44% in February

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<keyword id="513422" type="General" weightage="20" keywordseo="retail-inflation" source="Orion">Retail inflation</keyword> fell to an 18-month low of 4.7 per cent in April mainly due to cooling food prices, government data showed on Friday. It was for the second month in a row that Consumer Price Index (CPI) based inflation remained within the RBI's comfort zone of below 6 per cent. The retail inflation based on Consumer Price Index (CPI) was 5.66 per cent in March 2023 and 7.79 per cent in the year-ago period. Retail inflation in April is the lowest since October 2021 when it was at 4.48 per cent. According to the National Statistical Office, the inflation in the food basket was 3.84 per cent in April, as against 4.79 per cent in March and 8.31 per cent in the year-ago period. Retail inflation rose from 5.7 per cent in December 2022 to 6.4 per cent in February 2023 on the back of higher prices of cereals, milk and fruits and slower deflation in vegetable prices. Reserve Bank of India has projected the CPI inflation at 5.2 per cent for FY2023-24, with 5.1 per cent in Q1, 5.4 per cent in Q2, 5.4 per cent in Q3, and 5.2 per cent in Q4, and risks evenly balanced. <keyword id="35052" type="General" weightage="20" keywordseo="industrial-production" source="Orion">Industrial production</keyword> rises 1.1 pc in March, 5.1 pc in 2022-23 fiscal India's industrial production rose 1.1 per cent in March, according to official data released on Friday. Factory output measured in terms of the Index of Industrial Production (IIP) grew 2.2 per cent in March 2022. The data released by the National Statistical Office (NSO) showed that the manufacturing sector's output increased 0.5 per cent in March 2023. Mining output rose 6.8 per cent during the month under review. Power output declined by 1.6 in March. The IIP grew 5.1 per cent in 2022-23 as against a growth of 11.4 per cent in 2021-22.

Retail inflation declines to 18-month low of 4.7% in March; Industrial production rises 1.1%

<ul class="summary-list"><li>People have been worried about runaway <keyword id="11894140" type="UNKNOWN" weightage="60" keywordseo="inflation" source="Orion">inflation</keyword> all summer, including Sen. Joe Manchin, but the latest <keyword id="11995266" type="UNKNOWN" weightage="60" keywordseo="cpi" source="Orion">CPI</keyword> report showed a slowdown.</li><li>Some of the big pandemic-era drivers of inflation, like used cars, started falling back to earth.</li><li>Other worrisome "sticky" prices, like rent, haven't shown signs of accelerating yet.</li></ul>Summer is almost over, and the latest economic data suggests that the season's inflation mania is also reaching an end.Former Treasury Secretary Larry Summers kicked off the fears among the economic chattering class in March, calling Biden and the Fed's approach the "<a href="https://www.businessinsider.com/larry-summers-macroeconomic-policy-biden-economy-inflation-covid-relief-2021-3">least responsible</a>" macroeconomic policy in 40 years - meaning even less responsible than the <a href="https://www.businessinsider.com/what-caused-the-great-recession">2008 housing bubble</a> that nearly brought down the world <keyword id="11893570" type="UNKNOWN" weightage="100" keywordseo="economy" source="Orion">economy</keyword>.Fast forward to August's consumer price index, and the argument in favor of "<a href="https://www.businessinsider.com/team-transitory-winning-battle-over-inflation-hawks-price-changes-2021-8">team transitory</a>" - ie, Biden and the Fed - look stronger and stronger.Consumer prices rose 0.3% in August, <a href="https://www.businessinsider.com/cpi-inflation-august-consumer-price-growth-index-economic-data-delta-2021-9">the Bureau of Labor Statistics said Tuesday</a>, marking the second straight month of a slowdown in price growth. The Consumer Price Index - a popular measure of US inflation - still sits at decade highs on a year-over-year basis. But the slower growth seen in August suggests inflation could be tapering off and matching the predictions of the Biden administration and the Fed.As the US economy began reopening in late spring and early summer, inflation leaped higher. <a href="https://www.businessinsider.com/consumer-price-index-inflation-june-2021-7">June alone saw a 0.9% month-over-month increase in prices</a>, the fastest price growth since the financial crisis.Several Biden administration officials, <a href="https://www.businessinsider.com/inflation-outlook-rising-prices-marty-walsh-biden-administration-not-concerned-2021-7">including Labor Secretary Marty Walsh</a>, said that they weren't overly concerned about inflation this summer and they believed such price spikes would be temporary. Similarly, <a href="https://www.businessinsider.com/inflation-outlook-high-but-probably-temporary-transitory-2021-7">Fed Chair Jerome Powell</a> said in Congressional testimony in July that most inflation was coming from transitory reopening shocks and should abate through the rest of the year.On the other side of the debate, beyond <a href="https://www.businessinsider.com/larry-summers-inflation-fears-biden-stimulus-infrastructure-federal-reserve-recovery-2021-3">Summers</a>, the powerful moderate Sen. Joe Manchin cited <a href="https://www.businessinsider.com/reviews/out?u=https%3A%2F%2Fwww.wsj.com%2Farticles%2Fmanchin-pelosi-biden-3-5-trillion-reconciliation-government-spending-debt-deficit-inflation-11630605657">worries about runaway inflation in a Wall Street Journal op-ed</a> explaining his trepidation around Democrats' $3.5 trillion social spending proposal. Tuesday's read of easing <keyword id="12095645" type="UNKNOWN" weightage="60" keywordseo="inflation-data" source="Orion">inflation data</keyword> could make trillions of dollars of a difference if it changes Manchin's mind on what he may support.<h2>Where inflation is easing up, and where it poses a lasting threat</h2>The details of the report suggest that the worst could be behind us. Used cars and trucks have been one of the big drivers of inflation this year, with <a href="https://www.businessinsider.com/price-of-used-cars-record-increase-june-2021-7">prices skyrocketing in the spring and early summer</a> amid pandemic-caused supply shortages and a wave of new demand. Yet those prices <a href="https://www.businessinsider.com/used-car-truck-prices-rental-vehicles-recovery-cpi-inflation-august-2021-9">actually declined in August</a>, after seeing several double-digit monthly increases:Other pandemic-affected sectors like <a href="https://fred.stlouisfed.org/series/CUSR0000SETG01">airline tickets</a> saw sharp increases in the spring, but had a 9.1% month-over-month decline in August as the Delta wave curbed demand. In addition to those slowdowns in sectors highly affected by the pandemic, the August CPI report also showed few signs of more deeply rooted inflation that could prove a problem in the longer term.The housing market is host to some of the most worrying inflation trends. Homebuyers have been facing an uphill battle all summer, with <a href="https://www.businessinsider.com/america-housing-crisis-getting-worse-home-prices-apartment-rental-market-2021-8">prices in many hot markets skyrocketing</a>. Despite that, broad price increases for housing have remained modest. The shelter sub-index measured by the Bureau of Labor Statistics has risen steadily during the pandemic, but at a slower pace than overall inflation. August saw an even more modest increase in shelter prices:So far, there hasn't been an acceleration in the price of shelter. That's a good sign for longer-term inflation, since house prices and rents tend to be "sticky," meaning that increases tend to only ratchet up and declines in prices are very rare. The type of long-term inflation feared by Summers and Manchin would likely start showing up in the above chart, and it hasn't materialized yet.The August <keyword id="12095644" type="UNKNOWN" weightage="60" keywordseo="inflation-report" source="Orion">inflation report</keyword>, then, makes it look like price increases are starting to simmer down. Team transitory is firmly in the lead.

Joe Manchin's inflation worries are threatening Biden's agenda, but we might have just passed the peak hysteria over runaway price hikes

<ul class="summary-list"><li>Former Treasury Secretary <keyword id="192145" type="PERSON" weightage="60" keywordseo="Larry-Summers">Larry Summers</keyword> said <keyword id="22195" type="COMPANY" weightage="60" keywordseo="Inflation">inflation</keyword> is surging faster than even he had worried.</li><li>He said April inflation - the strongest jump since 2009 - "has to make us nervous going forward."</li><li>On the other side of the inflation debate, the <keyword id="45672" type="ORGANIZATION" weightage="60" keywordseo="Fed">Fed</keyword> maintains stronger inflation will be temporary.</li></ul>For someone who's been warning of rampant inflation for much of 2021, it would take a blowout report to rattle former Treasury Secretary Larry Summers.Data published Wednesday seems to have fit the bill.The Consumer Price Index - among the most popular gauges of broad inflation - <a href="https://www.businessinsider.com/inflation-consumer-price-index-april-cpi-economic-reopening-price-growth-2021-5">rose 0.8% in April</a>, trouncing the 0.2% estimate and marking the largest month-over-month jump since 2009.The acceleration in price growth is worthy of concern, Summers said Friday, adding the data surpassed even his own projections."I was on the worried side about inflation and it's all moved much faster, much sooner than I had predicted," Summers said on <a href="https://www.bloomberg.com/news/articles/2021-05-14/summers-says-u-s-inflation-rising-faster-than-even-he-predicted?sref=BLKWHazc">Bloomberg TV</a>. "That has to make us nervous going forward."Summers has been among the loudest voices calling on the Biden administration and the Federal Reserve to pull back on policy support amid concerns of an inflation crisis. He characterized Democrats' $1.9 trillion stimulus plan as the "least responsible" fiscal policy he'd seen in four decades. The idea that inflation can't suddenly spiral out of the Fed's control "is just plain wrong," he said in March.The former Treasury Secretary's comments could even lift inflation on their own, because price growth is somewhat guided by expectations. When people anticipate prices will climb faster, businesses tend to lift selling prices and workers ask for higher wages. <keyword id="659974" type="PERSON" weightage="60" keywordseo="inflation-expectations">Inflation expectations</keyword> <a href="https://www.businessinsider.com/inflation-expectations-outlook-rise-us-economy-reopening-spending-price-growth-2021-5">are already elevated</a>, and chatter from Summers and other inflation hawks could stoke such fears even more.On the other side of the inflation debate, the central bank is holding strong in its belief that stronger inflation will be transitory. Richard Clarida, the Fed's vice chairman, said Wednesday that, despite the surprising April data, price growth <a href="https://www.businessinsider.com/april-inflation-surge-likely-fade-economic-recovery-reopening-fed-economists-2021-5">should still cool</a> and trend near the central bank's 2% target over time."We have pent-up demand in the <keyword id="34412" type="ORGANIZATION" weightage="100" keywordseo="economy">economy</keyword>. It may take some time for supply to rise up to demand," he added in a Wednesday speech.Summers rebuked the central bank's forecast, noting that the April jump suggests dangerous inflation remains a potential outcome."I don't think you can dismiss these figures," he said. "The Fed seems to be planning for a very benign scenario that we certainly can't count on." Still, economists at major banks have largely agreed with the Fed's outlook. Bottlenecks and supply-chain disruptions plaguing US manufacturers are contributing to stronger price growth, but <a href="https://www.businessinsider.com/employment-outlook-labor-shortage-similar-supply-constraints-bottlenecks-factories-jpmorgan-2021-5">the issues will fade</a> as the economy rebounds and policy support remains, JPMorgan said in a recent note.Americans should brace for even higher inflation numbers, but they can rest assured the boost will be temporary, Jan Hatzius, chief economist at Goldman Sachs, said in a Tuesday appearance on <a href="https://www.bloomberg.com/news/articles/2021-05-11/goldman-s-hatzius-says-u-s-inflation-rise-will-be-temporary">Bloomberg TV</a>. Factors that contributed to the April jump, such as higher service prices and easier year-over-year comparisons, suggest strong inflation will settle at the Fed's target relatively soon, he added."A lot of that is pretty short-term," Hatzius said. "It doesn't really tell you a lot about inflation in 2022 when we think we'll probably be back to about 2%."

Larry Summers thought inflation could rise quickly - but not this quickly

<ul class="summary-list"><li>Shelter <keyword id="22195" type="COMPANY" weightage="60" keywordseo="Inflation">inflation</keyword> - which tracks <keyword id="11273699" type="UNKNOWN" weightage="60" keywordseo="rent-prices">rent prices</keyword> - is set to boom just as price growth elsewhere cools.</li><li>The jump could lead inflation to normalize above the Fed's long-term target of 2%, Morgan Stanley said.</li><li>Climbing home prices and the end of payment forgiveness will likely drive shelter inflation higher.</li></ul><keyword id="6361997" type="UNKNOWN" weightage="60" keywordseo="rent">Rent</keyword> prices tumbled at the start of the pandemic and are only just now on the rise. But where inflation in other pockets of the <keyword id="34412" type="ORGANIZATION" weightage="100" keywordseo="economy">economy</keyword> is expected to cool off, rent might just keep climbing.The Federal Reserve, Biden administration officials, and much of Wall Street see elevated overall inflation eventually moderating as the economy settles into a new normal. The last inflation report, while stronger than expected, showed price growth picking up in services closely linked to reopening. The consensus holds that as such bottlenecks and pent-up demand fade, inflation should moderate, but "shelter inflation," or rent, could be the big exception to that.Rent prices are flashing "signs of more persistent inflationary pressures" on the horizon, Morgan Stanley economists said in a Sunday note. Shelter inflation - which covers rent and owners' equivalent rents - is only just picking up after prices cratered through the pandemic.Goldman Sachs echoed its peer in a Monday note, saying the "special factors" that held down shelter inflation during the health crisis will soon ease up and drive prices higher.The shelter-inflation gauge is critical for broader inflation, since it represents "more cyclical, more persistent, and more inertial sources of price pressures," Morgan Stanley said. And as shelter inflation accelerates through 2021, it could lead broader inflation to normalize above 2%, the team led by Ellen Zentner added.<div type="image" title="Shelter inflation" height="386" width="586" msid="82717998" hostid="261"></div>Such an outcome could be worrisome for the Fed. The central bank has said it aims to let inflation run above 2% for some time before looking to pull it back to that threshold for the long term. Inflation settling above that level could force the Fed into an unforeseen corner.Forecasts suggest soaring shelter inflation could also push inflation expectations permanently higher. Shelter prices are expected to grow 3.8% year-over-year by the end of 2022, Goldman economists said. Inflation will accelerate further and land above 4% in 2023, exceeding the highs of the last economic expansion.With renters making up nearly one-third of the housing market, such strong inflation could spark intense price concerns. Elevated inflation expectations can drive real inflation higher, as businesses tend to raise prices and workers ask for higher wages when they expect price growth to accelerate.Skyrocketing home prices could add to the sector's price pressures, the team of Goldman economists led by Jan Hatzius said. A historic shortage of home inventory and surging demand led home prices to <a href="https://www.businessinsider.com/home-prices-fhfa-february-record-jump-supply-shortage-housing-market-2021-4">climb at their fastest-ever rate</a> in February, according to the Federal Housing Finance Agency. Although home prices don't directly affect shelter inflation, Goldman found that 5% to 15% of home-price growth eventually spills over into shelter inflation.To be sure, shelter inflation counts for just 20% of the core Personal Consumption Expenditures index and 40% of the core Consumer Price Index, two of the most popular broad inflation gauges. It would take considerably strong shelter inflation to pull both indexes to worrying levels.Still, the component is one to watch as the country reopens, Goldman said. The end of pandemic-era payment forgiveness will likely skew data later this year, as will a tighter labor market. If those factors can fuel stronger shelter inflation expectations, broad inflation could follow.

Rent's big comeback could be the thing that makes stronger inflation permanent

<ul class="summary-list"><li>The reopening <keyword id="34412" type="ORGANIZATION" weightage="100" keywordseo="economy">economy</keyword> is seeing stronger <keyword id="22195" type="COMPANY" weightage="60" keywordseo="Inflation">inflation</keyword>, which many expect to be temporary, including famous <keyword id="6365396" type="ORGANIZATION" weightage="60" keywordseo="economist">economist</keyword> <keyword id="46540" type="PERSON" weightage="60" keywordseo="Paul-Krugman">Paul Krugman</keyword>.</li><li>The Nobel laureate told Insider that watching several indices gives a clearer picture than the Fed's top measure.</li><li>Anecdotal evidence and workers' contracts can also catch some price growth missed by other data, he said.</li></ul>As comes the recovery, so does inflation.The gradual reopening of the US economy is quickly lifting consumer demand as Americans rush to revive their pre-pandemic habits. The surge in spending has <a href="https://www.businessinsider.com/inflation-consumer-price-index-march-economic-reopening-federal-reserve-powell-2021-4">already pushed popular gauges of inflation higher</a>, but experts see price growth accelerating further as the recovery continues.Debates over how inflation trends over the next year split economists into two camps. One group - which includes Republicans and even moderate Democrats like former Treasury Secretary Larry Summers - fears the latest stimulus package and strong demand will spark rampant and dangerous price growth. The other sees higher inflation fading as the economy settles into a new sense of normal.Nobel prize-winning economist Paul Krugman sits squarely in the latter group, but he told Insider he's still keeping an eye out for a potential <keyword id="11218427" type="UNKNOWN" weightage="60" keywordseo="inflation-shock">inflation shock</keyword>."Both sides are predicting the stuff that we're seeing now," he told Insider. "Anyone who wasn't expecting to see some prices of some things rise as the economy came roaring out of the pandemic wasn't paying attention," he said.It's too early to say whether either side of the inflation debate is right, he said. Bottlenecks and supply-chain issues are behind some rising inflation gauges, but it remains to be seen whether those effects subside or give way to broad and concerning price growth.Krugman said he's watching a handful of indicators to determine whether inflation poses a significant risk to the recovery. Core inflation isn't enough, since various bottlenecks could elude the benchmark, he said. Instead, the <a href="https://www.atlantafed.org/research/inflationproject/underlying-inflation-dashboard">inflation-metric dashboard</a> maintained by the Federal Reserve Bank of Atlanta gives a more holistic view of nationwide price growth.Sticky inflation indices, which track a subset of goods and services that change price somewhat rarely, are also worth monitoring, he said. Krugman also highlighted trimmed-mean inflation gauges, which exclude large price swings to more accurately track broad inflation trends."The whole question is whether prices that are not changing all the time are being set with expectation of inflation in the future, whether we get this leapfrogging process, which is what makes inflation - once embedded in the economy - harder to get rid of," the economist said.Krugman also backed the use of some less conventional metrics. Wage contracts and union agreements are less easy to track, but data on companywide pay can reveal whether firms are building the expectation of higher inflation into their compensation, he said.Getting some qualitative data is also worthwhile, the economist added. Surveys show Americans bracing for stronger inflation as the economy bounces back. Such data and other anecdotes can provide some insights into nationwide price growth that indices miss, Krugman said."I'm forcing myself to read the Beige Book these days, because I think, in some ways, it's going to be a better guide than the statistics are," he added, referring to the Federal Reserve's periodic report of current economic conditions.

Nobel prize-winning economist Paul Krugman details the indicators he's watching for the first signs of an inflation shock

<ul class="summary-list"><li>The <keyword id="11963271" type="UNKNOWN" weightage="60" keywordseo="pce-inflation" source="Orion">PCE inflation</keyword> metric rose 0.3% in September, matching economists' median estimate.</li><li>The print showed <keyword id="11894140" type="UNKNOWN" weightage="60" keywordseo="inflation" source="Orion">inflation</keyword> staying high into the fall and signaled price growth could stay stubbornly high.</li></ul>Prices for everyday goods in the US rose as anticipated in September, signaling uncomfortably high inflation will stick around longer than expected.The <keyword id="11963273" type="UNKNOWN" weightage="60" keywordseo="personal-consumption-expenditures" source="Orion">Personal Consumption Expenditures</keyword> price index - a commonly used measure of inflation - climbed 0.3% in September, the <a href="https://www.bea.gov/news/2021/personal-income-and-outlays-august-2021">Commerce Department</a> announced Friday. That matched the median forecast from economists surveyed by Bloomberg. The reading also shows price growth slightly slowing from the 0.4% inflation rate seen in August.On a year-over-year basis, prices rose 4.4% last month. That matched the median estimate for a 4.4% jump.Core <keyword id="11963272" type="UNKNOWN" weightage="60" keywordseo="pce" source="Orion">PCE</keyword>, which excludes volatile food and energy prices, gained 0.2% through September, also matching expectations. The print reveals core price growth decelerating from the 0.3% gain in August.The <a href="https://www.businessinsider.com/what-is-the-federal-reserve">Federal Reserve</a> uses core PCE as its primary inflation measure as it looks to keep inflation in check. The central bank and the Biden administration had said for months that the historically high inflation would cool off as the <keyword id="11893570" type="UNKNOWN" weightage="100" keywordseo="economy" source="Orion">economy</keyword> healed. Yet the Friday report reveals that, while monthly price growth is down from its spring highs, it's still well above typical pre-pandemic levels.Inflation data from earlier in October showed similarly sticky price growth. The Consumer Price Index gained 0.4% in September, exceeding the 0.3% estimate and rebounding from the 0.3% growth seen in August. On a year-over-year basis, CPI accelerated to a 5.4% increase, marking the fastest price growth since 2008.Together, the prints signal prices will keep soaring as the world untangles its supply chain mess. An extraordinary combination of material shortages, production bottlenecks, and shipping delays have hindered businesses' attempts to shore up supply. At the same time, the Delta wave peaked in mid-September and <a href="https://www.businessinsider.com/retail-sales-september-consumer-spending-delta-wave-economic-recovery-data-2021-10">Americans' spending surged higher</a>. With more cash chasing limited goods, prices had nowhere to go but up.If pandemic-era inflation is scaring the White House, officials aren't showing it. Treasury Secretary Janet Yellen reiterated her outlook that inflation will eventually cool on Sunday, even if it lingers at elevated levels for longer than expected. Price growth will <a href="https://www.businessinsider.com/price-growth-inflation-outlook-stay-high-next-year-janet-yellen-2021-10">likely stay high into next year</a> and start to cool off by the second half of 2022, Yellen said."We are going through a period of inflation that's higher than Americans have seen in a long time, and it's something that's obviously a concern. But we haven't lost control," she added.

Inflation looked less transitory in September as the global supply chain crisis pushed prices higher

<ul class="summary-list"><li>US stocks rose after <keyword id="11894140" type="UNKNOWN" weightage="60" keywordseo="inflation" source="Orion">inflation</keyword> in December showed a reading that was the strongest in four decades. </li><li>The <keyword id="11995266" type="UNKNOWN" weightage="60" keywordseo="cpi" source="Orion">CPI</keyword> gained 7% year-over-year last month, in line with the median forecast of 7%. </li><li>The pace reflects the strongest inflation since 1982.</li></ul>US stocks rose on Wednesday after <keyword id="12095645" type="UNKNOWN" weightage="60" keywordseo="inflation-data" source="Orion">inflation data</keyword> for December showed prices rising at the quickest pace in almost four decades. The <a href="https://www.businessinsider.com/inflation-december-cpi-price-growth-index-supply-chain-economic-recovery-2022-1">Consumer Price Index</a> gained 7% year-over-year last month, the Bureau of Labor Statistics announced, in line with the median forecast of 7% given by the economists surveyed by Bloomberg. The pace reflects the strongest inflation since 1982 and marks a slight acceleration from the 6.8% year-over-year leap seen in November.The <a href="https://www.businessinsider.com/inflation-december-cpi-price-growth-index-supply-chain-economic-recovery-2022-1">report</a> reveals inflation worsened slightly through December 2021 as the Omicron variant spread across the country alongside continued supply chain constraints. Here's where US indexes stood at the 9:30 a.m. ET open on Wednesday:<ul><li><a href="https://markets.businessinsider.com/index/s&amp;p_500?utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_source=markets" target="_blank" rel="noopener">S&amp;P 500</a>: 4,739.75, up 0.57% </li><li><a href="https://markets.businessinsider.com/index/dow_jones?utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_source=markets" target="_blank" rel="noopener">Dow Jones Industrial Average</a>: 36,442.36, up 0.53% (190.34 points)</li><li><a href="https://markets.businessinsider.com/index/nasdaq_composite?utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_source=markets" target="_blank" rel="noopener">Nasdaq Composite</a>: 15,306.95, up 1.01% </li></ul>"Wednesday's CPI report doesn't change anything for the Federal Reserve's policy plans and it has already told the <keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">markets</keyword> that it expects a tight labor market, rising wages, and low unemployment to continue," George Ball, chairman of Sanders Morris Harris, an investment firm, said in a note.All indexes edged higher, as investors shook off the inflation reading that indicated the Fed was likely to continue tightening monetary policy and is on track to begin hiking interest rates in March. Others though said the CPI reading could actually alter the Fed's plans."The Fed is going to be forced to begin raising rates in March and depending on the political pressure on them – from both sides of the aisle – they are going to have to raise rates four or more times in this year and potentially more than that next year," said Chris Zaccarelli, CIO at Independent Advisor Alliance. "The market is giving the Fed the benefit of the doubt – so far – but risks are rising that inflation will force the Fed into a rate-hiking cycle that results in a shock to the <keyword id="11895235" type="UNKNOWN" weightage="60" keywordseo="stock-market" source="Orion">stock market</keyword>."The <a href="https://markets.businessinsider.com/rates/u-s--rates-10-years?utm_medium=ingest&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_source=markets&amp;utm_source=markets&amp;utm_source=markets&amp;utm_source=markets&amp;utm_source=markets&amp;utm_source=markets" target="_blank" rel="noopener">10-year Treasury note</a> yield slipped to 1.713% from Tuesday's 1.745% rate. The yield saw a brief spike to about 1.80% in the previous session — the highest level since before the COVID-19 pandemic. Bond yields and prices move in opposite directions.Oil prices ticked up. <a href="https://markets.businessinsider.com/commodities/oil-price?type=wti&amp;utm_medium=ingest&amp;utm_source=markets" target="_blank" rel="noopener">West Texas Intermediate crude</a> oil rose 0.87% to $81.93 per barrel. <a href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_source=markets" target="_blank" rel="noopener">Brent crude</a>, oil's international benchmark, jumped 0.56% to $84.21 per barrel.The crude oil inventories number will be out at 10:30 a.m. ET Wednesday.<a href="https://markets.businessinsider.com/commodities/gold-price?utm_medium=ingest&amp;utm_source=markets" target="_blank" rel="noopener">Gold</a> rose 0.07% to $1,819.52 per ounce.

US stocks rise as inflation reading comes in hot but in line with estimates

<ul><li>Retail inflation in October was at a three-month low from a five-month high of 7.41 per cent in September.</li><li>At 6.77 per cent, October's retail inflation is still above the RBI's tolerance band of 6 per cent. </li><li><keyword id="67286" type="General" weightage="20" keywordseo="food-inflation" source="Orion">Food inflation</keyword> in October fell to 7.01 per cent from 8.6 per cent in the previous month</li></ul> New Delhi, Nov 14 (IANS) Retail inflation in October eased to 6.77 per cent, compared to 7.41 per cent in September, yet remained above the RBI's tolerance band of 6 per cent for the 10th straight month, mainly due to high prices of food items. Though food inflation in October fell to 7.01 per cent from 8.6 per cent in the previous month, prices of meat and egg, milk, vegetables, and cereals rose. Retail inflation in October though was at a three-month low from a five-month high of 7.41 per cent in September. Recently the RBI's monetary policy committee held a meeting on November 3 to discuss the reply to be given to the Centre on the central bank's failure to curb inflation within its tolerance limit of below 6 per cent.

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US stocks rise as inflation reading comes in hot but in line with estimates

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Retail inflation eases to a 3-month low of 6.7% in October

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