India's consumer price inflation slowed more than expected in September, data from the Central Statistics Office revealed Thursday.
Consumer prices advanced 4.31 percent year-on-year in September, slower than the 5.05 percent increase seen in August. In the same period of 2015, inflation was 4.41 percent. Inflation was forecast to ease to 4.6 percent in September.
On a monthly basis, consumer prices dropped 0.23 percent in September.
Prices of food and beverages prices advanced 4.12 percent annually and clothing and footwear prices gained 5.19 percent. At the same time, housing cost grew 5.18 percent and prices of fuel and light moved up 3.07 percent.
At the first monetary policy meeting of the Reserve Bank of India, policymakers envisaged a trajectory taking headline CPI inflation towards a central tendency of 5 percent by March 2017, with risks tilted to the upside.
In the medium-term, the bank aims to bring inflation to 4 percent with a price band of +/- 2 percent.
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