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India Inflation Slows More Than Expected

India's consumer price inflation slowed more than expected in July, preliminary data from the statistics ministry showed Thursday.

The consumer price index rose 5.59 percent year-on-year following a 6.26 percent increase in June. Economists had forecast 5.78 percent inflation.

In the same month last year, inflation was 6.73 percent.

The food price inflation slowed to 3.96 percent from 5.42 percent.

Compared to the previous month, the CPI rose 0.74 percent from the previous month and the consumer food price index climbed 0.99 percent in July.

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