India's consumer price inflation eased more-than-expected in September
as the pace of increase in food prices slowed sharply, preliminary data
from the Central Statistics Office showed Monday.
The consumer price index rose 6.46 percent year-on-year after a 7.73 percent climb in August, slightly revised from 7.80 percent. Economists had forecast an inflation figure of 7.11 percent.
Food price inflation tumbled to 7.67 percent from 9.35 percent in the previous month.
The Reserve Bank of India targets to bring inflation to 8 percent by January 2015 and to 6 percent by January 2016.
While leaving rates unchanged last month for a fourth policy session, the central bank noted that although upside risks to inflation were receding, food price shocks could pose upside risks as the full effects of the monsoon's passage unfold and geopolitical developments that could materialize rapidly.
The central bank also noted that the balance of risks to it medium-term inflation target of 6 percent by January 2016 remained on the upside.
The consumer price index rose 6.46 percent year-on-year after a 7.73 percent climb in August, slightly revised from 7.80 percent. Economists had forecast an inflation figure of 7.11 percent.
Food price inflation tumbled to 7.67 percent from 9.35 percent in the previous month.
The Reserve Bank of India targets to bring inflation to 8 percent by January 2015 and to 6 percent by January 2016.
While leaving rates unchanged last month for a fourth policy session, the central bank noted that although upside risks to inflation were receding, food price shocks could pose upside risks as the full effects of the monsoon's passage unfold and geopolitical developments that could materialize rapidly.
The central bank also noted that the balance of risks to it medium-term inflation target of 6 percent by January 2016 remained on the upside.
