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India Inflation Accelerates Further

India's consumer price inflation accelerated further in March, preliminary data from the statistics ministry showed Tuesday.

The consumer price index rose 6.95 percent year-on-year after a 6.07 percent increase in the previous month. Economists had forecast 6.35 percent inflation.

In March 2021, inflation was 5.52 percent.

Food price inflation climbed to 7.68 percent from 5.85 percent in the previous month.

Clothing and footwear prices rose 9.40 percent and housing costs climbed 3.38 percent. Fuel and light prices increased 7.52 percent.

On a month-on-month basis, consumer prices rose 0.96 percent in March.

Separate official data showed that industrial production grew 1.7 percent year-on-year in February, which was less than the 2.6 percent increase economists had forecast. Manufacturing output grew 0.8 percent.

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