FX.co ★ India Inflation At 4-Month High

India's consumer prices saw their fastest growth in four months in June, according to a report from the National Statistical Office released on Friday.

Consumer price inflation climbed to 5.08 percent in June, exceeding predictions that it would hold steady at 4.8 percent. This marks the highest rate since February.

During the same month last year, the inflation rate stood at 4.87 percent.

Food price inflation notably surged to 9.36 percent in June, up from 8.69 percent in May.

On a month-to-month basis, consumer prices increased by 1.33 percent, while food prices saw a significant rise of 3.17 percent.

The Reserve Bank of India has projected consumer prices to increase by 4.5 percent in the 2024-25 fiscal year. Currently, inflation remains within the upper half of the RBI's 2-6 percent target range.