India CPI Inflation Accelerates More Than Expected

India CPI Inflation Accelerates More Than Expected

India’s consumer price inflation accelerated more than expected in March, preliminary data from the statistical office showed Monday. The consumer price index rose 5.52 percent year-on-year following a 5.03 percent increase in February. Economists had forecast 5.40 percent inflation. The consumer food price index climbed 4.94 percent year-on-year after a 3.87 percent rise in the previous month. Food and beverages prices rose 5.24 percent annually and those of clothing and footwear grew 4.41 percent. The cost of housing increased 3.50 percent and that of fuel and light grew 4.50 percent. Compared to the previous month, the CPI rose 0.13 percent, while the CFPI decreased 0.26 percent in March.