Economic Buzz: India Inflation Climbs 6.01% On Year In January

15 Feb 2022 , 09:19 AM

Indias consumer price index gained 6.01 percent year-on-year in January, bigger than the 5.66 percent rise in December, data from the National Statistical Office showed on Monday. In the same period last year, consumer price inflation was 4.06 percent. Likewise, food price inflation advanced to 5.43 percent from 4.05 percent in the previous month. On a monthly basis, consumer prices dropped 0.3 percent in January, while food prices fell more markedly by 1.32 percent. Data showed that clothing and footwear prices climbed 8.84 percent annually and housing increased 3.52 percent. Cost of fuel and light gained 9.32 percent. The central bank expects inflation to average 5.3 percent in the fiscal year 2022 and at 4.5 percent in FY 2023.

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