Financial News: India Consumer Price Inflation Eases; Industrial Output Gr

India Consumer Price Inflation Eases; Industrial Output Growth Improves

12/12/2024 - 06:48:00 (RTTNews)

(RTTNews) - India's inflation eased more than expected in November from a 14-month high in the previous month amid a slowdown in food prices, while industrial production expanded at a slightly faster pace in October, separate reports from the National Statistical Office showed on Thursday.

Consumer price inflation softened to 5.48 percent in November from 6.21 percent in October. Economists had expected inflation to slow to 5.53 percent.

In the same period last year, inflation was 5.55 percent.

With this, consumer price inflation came below the lower band of the 2-6 percent target.

Food inflation moderated to 9.04 percent in November from 10.87 percent in the previous month. Meanwhile, the housing inflation rate rose marginally to 2.87 percent from 2.81 percent. Data showed that fuel and light costs dropped by 1.83 percent. On a monthly basis, consumer prices posted a decrease of 0.15 percent.

Industrial production registered an annual growth of 3.5 percent in October, as expected after rising 3.1 percent in the previous month.

Manufacturing output grew 4.1 percent after climbing 3.9 percent in September. Data showed that mining output and electricity production advanced by 0.9 percent and 2.0 percent, respectively.

In the April to October period, industrial production expanded 4.0 percent from the same period last year.

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