India's consumer price inflation rose marginally in August and remained well within the central bank's tolerance band.
Consumer price climbed 3.65 percent on a yearly basis in August, marginally faster than the revised 3.60 percent rise seen in July, data from the National Statistical Office revealed Thursday. The rate was seen at 3.55 percent.
Consumer price inflation continued to remain within the lower band of the 2-6 percent target.
At the same time, food price inflation accelerated to 5.66 percent from 5.42 percent a month ago.
Month-on-month, overall consumer prices remained flat, while food prices dropped 0.44 percent.
At the August monetary policy meeting, the Reserve Bank of India had left its policy rate unchanged for the ninth consecutive time. The bank had kept its inflation outlook for 2024-25 at 4.5 percent.
Capital Economics' economist Shilan Shah said data reinforces the assessment that the Reserve Bank will proceed with a bit of caution and keep rates unchanged in its next meeting in October.
Economic News
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