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India Inflation Eases More Than Expected; Production Growth Remains Robust

India's headline consumer price inflation slowed more-than-expected in October, provisional figures from the statistics ministry showed on Monday.

The consumer price index rose 3.31 percent year-on-year after a 3.70 percent increase in September, which was revised from 3.77 percent. Economists had forecast 3.60 percent inflation.

Food price inflation was a -0.86 percent in October versus 0.51 percent in September.

On a month-on-month basis, the CPI rose 0.29 percent in October, while food prices declined 0.50 percent.

Separately, the ministry announced that industrial production rose 4.5 percent year-on-year in September, which was faster than the 4.3 percent gain economists had forecast.

August's production growth was revised up to 4.7 percent from 4.3 percent.

In September, mining output rose 0.2 percent, manufacturing grew 4.6 percent and electricity generation rose 8.2 percent.

Primary goods production rose 2.6 percent and capital goods output grew 5.8 percent. Intermediate goods gained 1.4 percent and construction logged a 9.5 percent increase in production.

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