Economic Buzz: Indias Consumer Price Inflation At 7.41% In September

13 Oct 2022 , 09:34 AM

Indias consumer price inflation accelerated more-than-expected in September to its highest level in five months, while industrial production declined unexpectedly in August to mark its first contraction in one-and-a-half years, data from the National Statistical Office showed on Wednesday. Consumer price inflation rose to a five-month high of 7.41 percent in September from 7.00 percent in August. In the same period last year, inflation was 4.35 percent. The inflation rate was well above the Reserve Bank of Indias medium term target of 4.0 percent. On a monthly basis, consumer prices moved up 0.57 percent from August, and food prices showed an increase of 0.91 percent. Separate official data showed that industrial production declined 0.8 percent year-over-year in August, reversing a 2.2 percent rise in July. In the April to August period, the industrial production posted an expansion of 7.7 percent annually.Powered by Commodity Insights