India inflation accelerates to 4.38%, surpassing expectations
Inflation in India accelerated to 4.38% in June, surpassing forecasts of 4.30%, due to rising food and fuel prices resulting from geopolitical tensions and weak monsoon rains. Expectations are for inflation to continue increasing and economic growth to slow in the upcoming fiscal year. This is mainly linked to the repercussions of the US-Iran war and the El Niño phenomenon, which have affected the monsoon season and increased the risks of crop shortages and higher energy costs. Meanwhile, the central bank continues to monitor inflation amid ongoing economic pressures.
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