2018.08.1308:19:00UTC+00India's Inflation Slows In July

India's consumer price inflation slowed in July, the Central Statistics Office reported Monday.

Consumer price inflation slowed to 4.17 percent in July from 4.92 percent in June. In the same period of 2017, inflation was 2.36 percent. Economists had forecast the annual rate to ease to 4.49 percent.

Similarly, food price inflation came in at 1.37 percent, down from 2.91 percent a month ago.

Overall inflation remained above the central bank's medium-term target of 4 percent. The Reserve Bank of India forecast 4.8 percent inflation for the second half of 2018-19.

On a monthly basis, consumer prices gained only 0.94 percent and food prices by 1.59 percent in July.