India Inflation Accelerates Further

India's consumer price inflation accelerated further in December, driven by strong price growth in the fuel, clothing and footwear, and food categories, preliminary data from the statistical office showed Wednesday.

The consumer price index rose 5.59 percent year-on-year following a 4.91 percent increase in the previous month. Economists had forecast 5.80 percent inflation.

The food price index climbed 4.05 percent annually after a 1.87 percent rise in November.

Compared to the previous month, the CPI fell 0.36 percent and the food price index dropped 1.18 percent in December.

Prices in the fuel and light group rose 10.95 percent annually and those in the clothing and footwear group increased 8.30 percent. Food and beverages registered a 4.47 percent increase.

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