Consumer prices in India fell in February compared with January by 0.07%, official data showed. At the same time, annual inflation accelerated to 2.57% from the January level of 1.97%, but its value remains well below the target level of the Reserve Bank of India at 4%. Economists had expected the February figure at 2.43%. During the year, food prices dropped by 0.7%, while prices for clothes and shoes increased by 2.7%. The main reason for the slowdown in consumer price growth over the past 12 months was the fall in food prices. The Indian Central Bank expects that in the first quarter of this year, inflation in the country will be at the level of 2.8%. Earlier it was reported that the growth rate of industrial production in India slowed in January in annual terms from 2.6% to 1.7%.
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