Indian inflation accelerates to 4.45% in July, slightly below expectations
Inflation in India accelerates slightly in July, while remaining close to market expectations. The Consumer Price Index (CPI), released on Wednesday by the Ministry of Statistics and Programme Implementation (MoSPI), rises 4.45% YoY in July, compared with 4.38% in June.
In July, India's inflation, as measured by the Consumer Price Index (CPI), saw a slight acceleration to 4.45% year-over-year, slightly below market expectations of 4.5%. This figure, released by the Ministry of Statistics and Programme Implementation (MoSPI), reflected a 4.38% increase from the previous month. The Indian Rupee (INR) responded modestly to the CPI data, with USD/INR trading around 95.3350, down 0.05% from the previous session.
The CPI, which tracks the average price change of goods and services consumed by households, is the primary indicator used to gauge inflation and shifts in purchasing patterns. A higher reading typically benefits the INR, while a lower reading poses a risk.
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