India Inflation Breaches 4% Target

India's retail inflation surged to 4.4% in June, breaching the Reserve Bank of India's 4% target for the first time in 17 months, driven by escalating fuel prices and the West Asia conflict.

The consumer price index numbers reflected the first complete assessment of recent hikes in petrol and diesel retail prices.

Food prices also accelerated, compounding the economic pressure on households.

The data is likely to complicate the central bank's monetary policy outlook as it navigates global uncertainty.