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India's falling rupee pushes retail inflation to five-month high in June

Reuters  |  NEW DELHI 

By Manoj KumarNEW DELHI (Reuters) - India's annual retail inflation accelerated to a five-month high in June, driven by a weakening rupee as well as surging oil prices, bolstering the chance the central bank will again raise interest rates in coming months.The Reserve Bank of India (RBI) last month raised its benchmark rate for the first time since 2014, by 25 basis points to 6.25 percent, and revised up its inflation projection for October-March to 4.7 percent from 4.4 percent earlier.The RBI's next policy review is on Aug. 1.In June, consumer prices rose 5.00 percent from a year earlier, ...

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First Published: Thu, July 12 2018. 18:22 IST