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Bloomberg
India’s inflation accelerated in January, breaching the top-end of the central bank’s target for the first time in three months and validating the concern of monetary authorities that price pressures are persistent and must be contained.
The consumer price index rose 6.52% from a year earlier, according to data released by the Statistics Ministry on Monday. That compares with 5.72% in December and 6% median estimate in a Bloomberg survey.
Food prices, which make up nearly half the index, increased 5.94%, while ‘fuel and light’ rose 10.84%.
Clothing and footwear costs went up 9.08% and housing prices picked up 4.62%, keeping core prices elevated. Core inflation stayed above the 6% mark for the 16th month in a row.