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India's June retail inflation accelerates to 5.0 percent

Reuters  |  NEW DELHI 

(Reuters) - India's retail rate accelerated to a five-month high of 5.0 percent in June, government data showed on Thursday, driven by higher fuel prices and a depreciating rupee.

Analysts polled by had forecast June's annual increase in the consumer price index at 5.30 percent, compared with May's 4.87 percent.

The forecasts for June ranged from 4.60 percent to 6.00 percent.

June was the eighth straight month in which was higher than the central bank's medium-term target of 4 percent.

The of (RBI) last month raised its benchmark interest rate for the first time since 2014, by 25 basis points to 6.25 percent, citing rising

(Reporting by Manoj Kumar; Editing by Malini Menon)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, July 12 2018. 17:45 IST