The Indian central bank, on August 10, raised its headline retail inflation forecast for 2023-24 to 5.4 percent. However, the July inflation number has thrown the proverbial spanner into these projections
With the consumer price index rising to 7.44 per cent in July, retail inflation breached the upper limit of the Reserve Bank of India's tolerance band of 2-6 per cent for the first time in five months.
Inflation rose slightly to a 3.2% rate for the year ending in July, the first increase after a full year of declines, the Bureau of Labor Statistics reported on Thursday in an update to the consumer price index.