Surging Food Prices Push Up India Inflation to 3-Month High
- CPI accelerated 4.81% last month, versus 4.6% survey estimate
- Price pressures may keep the central bank on hawkish hold
Workers unload sacks of onions from a truck at a wholesale market in Ghaziabad, Uttar Pradesh, India, in April.
Photographer: Anindito Mukherjee/BloombergThis article is for subscribers only.
India’s retail inflation rose more than estimated in June on spiraling food prices, reaffirming expectations of a hawkish hold from the central bank for the rest of the year.
After moderating for four months, consumer price inflation accelerated to 4.81% in June, compared with a 25-month low reading of 4.25% in May, Statistics Ministry data showed Wednesday. A Bloomberg survey of economists had expected a gain of 4.6%.