India Inflation Rises To 0.71% In November

(RTTNews) - India's consumer price inflation increased somewhat in November after easing to a record low in October, official data revealed on Friday.

Consumer price inflation climbed to 0.71 percent in November from 0.25 percent in October. Economists had expected inflation to rise to 0.70 percent.

The inflation is well below the Reserve Bank of India's tolerance band of 2-6 percent. During its last meeting on December 5, the RBI decided to cut the repo rate by 25 basis points to 5.25 percent.

The fall in food prices eased to 3.91 percent in November from a record fall of 5.02 percent in October.

The acceleration in both headline and food inflation was mainly attributed to increases in the prices of vegetables, eggs, meat and fish, spices, and fuel and light.

Costs for fuel and light rose 2.32 percent, faster than the 1.98 percent increase in October. Meanwhile, inflation based on housing is almost stable at 2.95 percent versus 2.96 percent a month ago.

On a monthly basis, consumer prices moved up 0.3 percent.