Financial News: India Inflation Slows To 5.09%

India Inflation Slows To 5.09%

03/12/2024 - 09:19:00 (RTTNews)

(RTTNews) - India's consumer price inflation softened marginally in February, data from the Ministry of Statistics and Programme Implementation showed Tuesday.

The consumer price index posted an annual growth of 5.09 percent in February. This was slightly slower than January's 5.1 percent increase and economists' forecast of 5.02 percent rise. In the same period last year, inflation was 6.44 percent.

Meanwhile, food price inflation advanced to 8.66 percent from 8.30 percent a month ago.

The Reserve Bank of India aims to keep overall inflation within the tolerance band of 2-6 percent.

Last month, the Reserve Bank had decided to keep the repo rate unchanged at 6.50 percent.

The central bank forecast inflation for the current fiscal at 5.4 percent. For 2024-25, inflation was seen at 4.5 percent.

Month-on-month, consumer prices gained 0.16 percent in February, reversing a 0.11 percent fall in January, data showed today.

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