India retail inflation 4.4% in June above RBI 4% target
Business
India's retail inflation climbed to 4.4% in June, higher than the Reserve Bank of India's 4% target and the highest under the revised CPI series introduced in January 2024, with 2024 as the base year.
The main culprits? Food and fuel prices went up, partly because of higher food and fuel costs; economists also warn that uneven rainfall could add pressure in coming months.
India food inflation at 5.3%
Food inflation hit 5.3%, with rural areas feeling it a bit more than cities.
Meanwhile, core inflation (which leaves out food and fuel) actually eased to 3.9%, thanks to cheaper gold and silver.
Experts think the Reserve Bank of India will keep interest rates unchanged for now, but warn that global tensions could still shake things up later this year.