India Consumer Inflation Slows to 24-Month Low
In January of 2014, Indian consumer price inflation decelerated to 8.79 percent, the lowest annual rate since January of 2012, due to lower food prices.
Year-on-year, food prices slowed to 9.90 percent, from 12.16 percent recorded in December. Cost of oils and fats fell 0.35 percent and sugar prices decreased 5.51 percent. Vegetable prices recorded the highest rate (21.91 percent), followed by fruits (15.66 percent) and egg, fish and meat (11.69 percent).
Cost of clothing and footwear grew 9.18 percent and prices of fuel and light increased 6.54 percent.
Provisional annual inflation rates for rural and urban areas in January are 9.43 percent and 8.09 percent, respectively.
The Reserve Bank of India expects consumer price inflation to stay above 9 percent in the first quarter of 2014.
2/12/2014 2:16:53 PM