India Inflation Reaches Three-Month High as Rupee Fans Costs
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Indian inflation accelerated to a three-month high in June, threatening to curb scope for a further interest-rate cut as rupee weakness stokes import costs.
The wholesale-price index rose 4.86 percent from a year earlier, exceeding May’s 4.7 percent climb, a Commerce Ministry statement showed in New Delhi today. The median estimate in a Bloomberg News survey of 30 analysts was 4.94 percent. The Reserve Bank of India’s threshold level is about 5 percent.