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Financial News: India Inflation Slows Slightly In December

India Inflation Slows Slightly In December

01/12/2023 - 08:26:00 (RTTNews)

(RTTNews) - India's consumer price inflation slowed slightly at the end of the year, the National Statistical Office said Thursday.

Consumer prices advanced 5.72 percent on a yearly basis in December, slower than the 5.88 percent increase seen in November. In the same period last year, inflation was 5.66 percent.

Inflation remained within the Reserve Bank of India's tolerance band of 2-6 percent for the second straight month.

Food price inflation also weakened in December, to 4.19 percent from 4.67 percent a month ago.

On a monthly basis, consumer prices were down 0.45 percent and food prices decreased 1.64 percent in December.

The Reserve Bank of India has raised its interest rates by a cumulative 225 basis points since May to curb the above target inflation.

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