Higher fuel prices drive up India’s inflation to five-month high
NEW DELHI — Higher fuel costs drove up India’s headline inflation to its highest level in five months in March, data showed, vindicating a central bank decision last week to keep its policy rate on hold amid concern about price pressures.
Consumer prices rose by an annual 3.81 percent, their fastest pace since October 2016, compared with February’s 3.65 percent, the Ministry of Statistics said on Wednesday.
The rise was lower than the 3.98 percent forecast by economists in a Reuters’ poll. Retail fuel inflation accelerated to 5.56 percent from 3.90 while gains in food prices slowed to 1.93 percent from 2.01 percent.
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