India Inflation Rate Lowest in Near 1 Year
Annual consumer inflation in India fell to 3.31 percent in October of 2018 from a downwardly revised 3.7 percent in September and below market expectations of 3.67 percent. It is the lowest inflation rate since September of 2017, mainly due to a drop in cost of food.
11/12/2018 12:33:45 PM
Prices of food and beverages declined 0.14 percent, following a 1.08 percent rise in September and the food index alone dropped 0.86 percent, after a 0.51 percent gain in the previous month. It is the biggest fall in food cost since June of 2017. Prices went down for vegetables (-8.06 percent), pulses and products (-10.28 percent) and sugar and confectionery (-7.64 percent) but rose slightly for fruits (0.35 percent).
Among non-food products, prices increased for pan, tobacco and intoxicants (6.13 percent); clothing and footwear (3.55 percent); housing (6.55 percent); fuel and light (8.55 percent); and miscellaneous (6.73 percent).
The corresponding provisional inflation rates for rural and urban areas were 2.82 percent and 3.97 percent, compared with September's figures of 3.27 percent and 4.31 percent respectively.
On a monthly basis, consumer prices rose 0.29 percent.