India Inflation Accelerates, Increasing Rate Pressure
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India’s inflation accelerated in June, increasing pressure on the central bank to raise interest rates for a second time this month.
The benchmark wholesale-price index jumped 10.55 percent from a year earlier, after a 10.16 percent gain in May, the commerce ministry said in a statement in New Delhi today. The inflation reading for April was raised to 11.23 percent, a 19-month high, according to the statement.