2024.01.1212:03:00UTC+00India Inflation Rises To 5.69%, Highest In 4 Months

India's consumer price inflation accelerated further in December to the highest level in four months on food prices, data from the Ministry of Statistics and Programme Implementation showed Friday.

The consumer price index registered an annual increase of 5.69 percent in December, following October's 5.55 percent gain. The actual inflation was below economists' forecast of 5.87 percent.

However, inflation remained within the central bank's tolerance band of 2-6 percent.

Food price inflation rose to 9.53 percent from 8.70 percent in the previous month.

Data showed that food and beverage prices logged a notable growth of 8.70 percent. Clothing and footwear prices moved up 3.61 percent, and housing costs gained 3.63 percent. Meanwhile, fuel and light costs continued to drop by 0.99 percent.

On a monthly basis, consumer prices were down 0.32 percent, and food prices dropped 0.88 percent in December.