India’s consumer price inflation increased for the first time in ten months in August, official data revealed on Friday.
Consumer price inflation climbed to 2.07 percent in August from 1.61 percent in July, which was the lowest inflation since June 2017.
The Reserve Bank of India aims to keep inflation in a 2-6 percent tolerance band. During its last meeting, the RBI decided to hold rates at 5.5 percent.
The fall in food prices eased to 0.69 percent in August from 1.76 percent in July, mainly attributed to an increase in the inflation of vegetables, meat and fish, oil, eggs, etc.
At the same time, housing inflation softened to 3.09 percent from 3.17 percent, and the annual growth in health costs moderated to 4.40 percent from 4.57 percent. Fuel and light prices were 2.43 percent higher, and transport and communication costs increased by 1.94 percent.
On a monthly basis, consumer prices moved up 0.46 percent.
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