Inflation eases in July as gasoline and grocery prices fall
Consumer prices in July were up 3.4% from a year ago — a smaller annual increase than in May or June. The news makes it less likely the Fed will feel the need to raise interest rates in September.
India's July inflation accelerated to 4.45% compared to 4.38% in June, as food prices remained high and drove up overall price pressures, according to government data released on Wednesday. The Consumer Price Index (CPI) reading stayed above the Reserve Bank of India's (RBI) medium-term inflation target of 4%. Inflation surpassed the central bank's target in June after remaining low for a long time.
RBI is required to keep headline retail inflation at 4%, allowing it to fluctuate within a range of 2% to 6% for the period from April 1, 2026, to March 31, 2031. A Reuters poll of 40 economists forecasted retail inflation to increase to 4.50% in July from 4.38% in June. July inflation marked the highest level since India started using its revised CPI series with a new base year and updated consumption basket earlier this year.
Written by urgent.news from The Economic Times - Economy's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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