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Financial News: India's Inflation Moderates; Industrial Production Growth

India's Inflation Moderates; Industrial Production Growth Exceeds Forecast

03/12/2020 - 08:30:00 (RTTNews)

(RTTNews) - India's consumer price inflation slowed on food prices and industrial production grew more than expected on broad based expansion across three sectors, official data showed Thursday.

Consumer price inflation moderated to 6.58 percent in February from 7.59 percent in January, the statistics ministry reported.

This was below the economists' forecast of 6.8 percent. Nonetheless, inflation accelerated from 2.57 percent in the same period last year.

Food prices logged a double-digit increase of 10.81 percent, but slower than the 13.63 percent increase seen in the previous month.

Another data showed that industrial production grew 2 percent on year in January, much faster than the expected increase of 0.7 percent and December's 0.1 percent rise.

Mining output advanced 4.4 percent and manufacturing climbed 1.5 percent. Electricity output grew 3.1 percent from last year.

During April 2019 to January 2020, industrial production logged a marginal annual growth of 0.5 percent.

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