Tuesday, February 14: Australia: NAB Business confidence index - January; China: Inflation rate - January; Japan: Industrial Production - December; Germany: GDP Growth rate - Q4 2016; Germany: Inflation rate - January; The UK: Retail price index - January; UK: Inflation rate - January; EU: GDP economic growth rate - Q4 2016; EU: Industrial production - December. Retail sales, unemployment and the latest inflation rate data for a majority of developed countries will also be published.
The cost of fuel surged 3.4 per cent to a two-year high in January, driving the annual increase to nearly 20 per cent.
Food inflation in January stood at 0.53 per cent, down from 1.37 in December 2016 and 6.85 per cent in January a year ago.
For the fiscal so far (April to January), overall CPI at 4.7 per cent is 20 bps lower than in the comparable previous period, while food inflation is down 11 bps to 4.7 per cent, and core inflation unchanged at 4.9 per cent.
Retail inflation eased in January to 3.17% on the back of a sharp slowdown in food price inflation.
A reversal in the base effect and the seasonal rise in prices of perishables are expected to push up the next two readings of CPI inflation.
The ONS has said that sterling weakness, which has seen the pound fall by some 16% since the June Brexit vote, is also factor in rising food prices.
Data from the Commerce Ministry showed while Food index in January rose 1.29 per cent (year-on-year), housing index jumped 5.02 per cent. Inflation in fuel and light segment was 3.42 per cent in January.
Earlier this month, RBI had surprised markets by holding rates, citing emerging inflationary pressures.
The Reserve Bank of India had projected inflation to remain within a range of 4.0 to 4.5 percent in the first half of the 2017-18 financial year.