Inflation & Prices
India’s Food-Driven Inflation Spurt to Keep RBI on Guard
- CPI rose 5.5% in November from year ago as food prices surged
- Core inflation rate remains near central bank’s 4% target
A customer browses fruit at a market stall in Mumbai, India.
Photographer: Indranil Aditya/BloombergThis article is for subscribers only.
India’s inflation quickened for the first time in four months, while manufacturing production surged more than forecast, giving the central bank reason to keep interest rates higher for longer.
The consumer price index rose 5.55% in November from a year earlier, slightly lower than economists expected, but moving further away from the Reserve Bank of India’s 4% target.