India Inflation Eases More Than Expected

(RTTNews) - India's consumer price inflation slowed more-than-expected in August to just above the central bank's target of 5 percent, figures from the Central Statistics Office showed Monday.

The consumer price index rose 5.05 percent annually, following a 6.07 percent climb in July. Economists had forecast 5.20 percent inflation.

Headline inflation held above the Reserve Bank of India's 5 percent target for a fifth straight month. The bank has adopted 4 percent inflation as its monetary policy target.

Food price inflation slowed sharply to 5.91 percent from 8.35 percent.

On a month-on-month basis, the CPI was unchanged in August amid a 0.58 percent decline in food prices.