India's food inflation at 7.58pc y/y
NEW DELHI: India's food price index rose 7.58 percent and the fuel price index climbed 11.89 percent in the year to July 9, government data on Thursday showed.
In the previous week, annual food and fuel inflation stood at 8.31 percent and 11.89 percent, respectively.
The primary articles price index was up 11.13 percent, compared with an annual rise of 11.58 percent a week earlier.
India's central bank is expected to raise its key policy rate by a further 25 basis points next week after inflation accelerated in June and may hike once more by the end of the year, before pausing its long tightening campaign, the latest Reuters poll showed on Wednesday.
The wholesale price inflation quickened in June to an annual 9.44 percent from 9.06 percent in May, driven by higher prices of manufactured goods and fuel, even though the economy showed signs of cooling.
The Reserve Bank of India (RBI) is expected to raise rates for the 11th time since March 2010 at its monetary policy review on July 26 to combat sticky inflation.
Copyright Reuters, 2011
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