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Retail inflation accelerates to four-month high in May

Reuters  |  NEW DELHI 

By Manoj KumarNEW DELHI (Reuters) - India's annual retail inflation accelerated to a four-month high in May, driven by higher fuel prices and a depreciating rupee, strengthening views that the central bank could raise interest rates again in August.The Reserve Bank of India last week raised its benchmark interest rate for the first time since 2014, by 25 basis points to 6.25 percent. Central banks in many emerging markets are raising rates to stem capital outflows, battle inflation and support domestic currencies following a resurgence in the dollar on higher U.S. interest rates.The Federal ...

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First Published: Tue, June 12 2018. 18:22 IST
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