Indian inflation accelerates to 4.45% in July, slightly below expectations
Inflation in India accelerates slightly in July, while remaining close to market expectations. The Consumer Price Index (CPI), released on Wednesday by the Ministry of Statistics and Programme Implementation (MoSPI), rises 4.45% YoY in July, compared with 4.38% in June. The market consensus had expected a slightly stronger increase of 4.5%.
Market reaction
In the foreign exchange market, the Indian Rupee (INR) reacts modestly to the release. USD/INR remains slightly tilted to the downside following the data, losing 0.05% on Tuesday and trading around 95.3350 at the time of writing.
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