NEW DELHI – India’s retail inflation accelerated to a five-month high in August, driven by higher food prices, government data showed Tuesday.
The benchmark consumer-price index rose 3.36% from a year earlier, quicker than July’s 2.36% increase. The latest reading is the highest since March, when the index was up 3.89%.
Food prices in August climbed 1.52% from a year earlier, rebounding from a 0.36% decline in July, according to the data.
The higher reading may diminish hopes of further rate cuts by the country’s central bank, which has predicted price pressures would be intensifying over the rest of the year.
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(END) Dow Jones Newswires
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September 12, 2017 08:40 ET (12:40 GMT)