India’s consumer price inflation increased to 4.45% in July, slightly under market expectations, as food and fuel costs climbed.
India’s Consumer Price Index (CPI) rose 4.45% year-over-year in July, up from 4.38% in June, according to government data. The print fell marginally below consensus estimates of around 4.50%, reflecting persistent but moderated price pressures.
The uptick was driven by higher food and fuel prices, though core inflation remained stable. Analysts had anticipated a slight acceleration due to seasonal factors and supply chain disruptions. July’s reading marks the second consecutive month of rising inflation after a brief dip in May.
Markets showed limited reaction as the data aligned closely with expectations, though bond yields edged slightly lower on relief over the smaller-than-feared increase.