Financial News: India Inflation Eases To 4.85%; Industrial Output Growth

India Inflation Eases To 4.85%; Industrial Output Growth Hits 4-Month High

04/12/2024 - 09:28:00 (RTTNews)

(RTTNews) - India's consumer price inflation eased more-than-expected in March to the lowest level in nine months, largely due to a slowdown in food costs and cheaper fuel and light costs, data published by the National Statistical Office showed on Friday.

Separate official data showed that industrial production expanded at the fastest pace in four months in February.

The consumer price index posted an annual increase of 4.85 percent in March, slower than the 5.09 percent increase in February. In the same period last year, inflation stood at 5.66 percent.

Inflation was expected to ease to 4.91 percent in March. The latest inflation was the slowest since June 2023.

Further, inflation remained within the central bank's tolerance band of 2-6 percent.

Food price inflation eased somewhat to 8.52 percent in March from 8.66 percent in the prior month.

Clothing and footwear costs rose 2.97 percent over the year, while those for fuel and light dropped by 3.24 percent.

On a monthly basis, consumer prices remained flat in March, versus a 0.22 percent decrease in February.

Another piece of official data showed that the annual increase in industrial production accelerated to 5.7 percent in February from 4.1 percent in January.

This was the highest rate of growth since October 2023, when output had grown 11.9 percent. The expected increase was 6.0 percent.

All three sectors posted growth in February, with mining registering the biggest percent expansion of 8.0 percent. Electricity and manufacturing grew 7.5 percent and 5.0 percent, respectively.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

China Manufacturing Sector Accelerates In April - Caixin (01 hr(s), 37 min(s), 45 sec(s) ago)
(RTTNews) - The manufacturing sector in China continued to expand in April, and at a faster pace, ...Full Story»

Australia Private Sector Credit Adds 0.3% In March (01 hr(s), 40 min(s), 45 sec(s) ago)
(RTTNews) - Private sector credit in Australia was up 0.3 percent on month in March, the Reserve B ...Full Story»

China Manufacturing PMI Slows To 50.4 In April - NBS (01 hr(s), 45 min(s), 45 sec(s) ago)
(RTTNews) - The manufacturing sector in China continued to expand in April, albeit at a slower pac ...Full Story»

Australia Retail Sales Slump 0.4% In March (01 hr(s), 50 min(s), 45 sec(s) ago)
(RTTNews) - The total value of retail sales in Australia was down a seasonally adjusted 0.4 percen ...Full Story»

Japan Retail Sales Slip 1.2% On Month In March (03 hr(s), 22 min(s), 45 sec(s) ago)
(RTTNews) - The value of retail sales in Japan was down a seasonally adjusted 1.2 percent on month ...Full Story»

Japan Industrial Output Climbs 3.8% On Month In March (03 hr(s), 28 min(s), 45 sec(s) ago)
(RTTNews) - Industrial production in Japan was up a seasonally adjusted 3.8 percent on month in Ma ...Full Story»

Japan Jobless Rate Holds Steady At 2.6% (03 hr(s), 47 min(s), 45 sec(s) ago)
(RTTNews) - The unemployment rate in Japan was a seasonally adjusted 2.6 percent in March, the Min ...Full Story»

South Korea Industrial Production Slips 2.1% In March (03 hr(s), 52 min(s), 45 sec(s) ago)
(RTTNews) - Industrial production in South Korea was down a seasonally adjusted 2.1 percent on mon ...Full Story»