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Financial News: India Inflation Accelerates In February

India Inflation Accelerates In February

03/12/2021 - 07:26:00 (RTTNews)

(RTTNews) - India's consumer price inflation accelerated more-than-expected in February, figures published by the statistics ministry showed on Friday.

Consumer price inflation advanced to 5.03 percent in February from 4.06 percent in January. The expected rate was 4.83 percent. Similarly, food price growth climbed to 3.87 percent from 1.96 percent in the prior month.

Data revealed that clothing and footwear prices grew 4.21 percent and housing costs moved up 3.23 percent. Fuel and light charges gained 3.53 percent.

Transport and communication cost grew notably by 11.36 percent and health by 6.33 percent.

The Reserve Bank of India forecast consumer price inflation of 5.2 percent in the fourth quarter of the fiscal year 2020-21.

Month-on-month, consumer prices gained 0.19 percent, while food prices fell 0.58 percent.

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