Financial News: India Inflation At 4-Month High

India Inflation At 4-Month High

07/12/2024 - 08:21:00 (RTTNews)

(RTTNews) - India's consumer prices grew at the fastest pace in four months in June, the National Statistical Office reported Friday.

Consumer price inflation advanced to 5.08 percent in June, while the rate was forecast to remain unchanged at 4.8 percent. This was the fastest since February.

In the same period last year, inflation was 4.87 percent.

Food price inflation accelerated to 9.36 percent in June from 8.69 percent a month ago.

On a monthly basis, consumer prices rose 1.33 percent, while food prices posted a strong 3.17 percent increase.

The Reserve Bank of India projected consumer prices to rise 4.5 percent in 2024-25. Currently, inflation remains at the upper half of the 2-6 percent target range.

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