Rising inflation in India delays interest rate cuts
India's retail inflation climbed to 4.38% in June, marking the first time in 17 months that it has exceeded the Reserve Bank of India's 4% threshold. This increase was driven by food inflation reaching 5.32%, alongside upward pressure from rising fuel costs for petrol and diesel. Aditi Nayar from ICRA noted that while interest rate reductions are currently not being considered, a rate hike in August is also seen as improbable.
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