India's July Inflation Accelerates to 4.45%, Unlikely to Alter RBI Rate Outlook

3-line summary

• India's annual retail inflation accelerated to 4.45% in July from 4.38% in June on higher food prices, marking the second straight month above the RBI's 4% medium-term target, according to a Reuters report via Yahoo Finance.
• The Reserve Bank of India left its benchmark repo rate unchanged at 5.25% last week, and the July print was roughly in line with economist forecasts of 4.50%.
• Food inflation rose to 5.52% in July from 5.32% in June on weak monsoon rains, while transport inflation accelerated to 4.43% from 4.31%.

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