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India Inflation Eases More Than Expected

India's consumer price inflation slowed more than expected in December, figures from the statistics ministry showed on Tuesday.

The consumer price index rose 4.59 percent year-on-year following a 6.93 percent increase in November. Economists had forecast 5.28 percent inflation.

The Consumer Food Price Index rose 3.41 percent annually in December after a 9.50 percent climb in November.

Compared to the previous month, the CPI fell 1.01 percent and the CFPI decreased 3.25 percent in December.

Prices of food and beverages increased 3.87 percent annually and those of clothing and footwear grew 3.49 percent. Housing costs grew 3.21 percent. Fuel and light cost rose 2.99 percent.

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