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India’s Inflation Rate Accelerates
India’s consumer price index, which rose 4.8% in March, climbed by a higher-than-expected 5.4% in April, according to the country’s statistics ministry.
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India’s consumer price index, which rose 4.8% in March, climbed by a higher-than-expected 5.4% in April, according to the country’s statistics ministry.
The acceleration came as the Reserve Bank of India lowered its index interest rate to a five-year low of 6.5% in an effort to reduce inflation. The central bank hopes to control inflation at 5% by this time next year.
Separate data today show India’s industrial output was unchanged in March, a decline economists consider more troubling.
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