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India's August retail inflation at 4.82% on-year
NEW DELHI: India’s annual retail inflation jumped to 4.82% in August from 4.45% in July, driven by higher food and fuel prices and strengthening a case for an interest rate hike in October. The August print is marginally higher than a 4.80% inflation that the economists were expecting in a Reuters polland marking a third straight month when it was above the Reserve Bank of India’s 4% medium-term target. The central bank left its benchmark policy rate unchanged at 5.25% last month, but minutes of its last monetary policy meeting showed that some RBI officials, including Governor Sanjay Malhotra...
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