India’s consumer price inflation eased less-than-expected in October to the lowest level in four months, data from the National Statistical Office showed on Monday.
The consumer price index, or CPI, climbed 4.87 percent year-over-year in October, slower than the 5.02 percent rise in September. Economists had forecast the inflation rate to moderate to 4.80 percent.
Inflation remained within the Reserve Bank of India’s tolerance band of 2-6 percent for the second straight month in October, although still above the medium-term target of 4.0 percent.
For the current financial year, the Reserve Bank of India sees consumer price inflation at 5.4 percent.
Food price inflation was almost unchanged in October, falling marginally to 6.61 percent from 6.62 percent in September.
Prices for clothing and footwear rose 4.31 percent annually in October, and housing costs were 3.80 percent higher. At the same time, fuel and light costs dropped by 0.39 percent.
On a monthly basis, consumer prices went up 0.65 percent in October, and food prices were 1.06 percent more expensive.