NEW DELHI (Reuters):
India’s headline inflation rose at the fastest pace for six months in August, driven by an 18 percent jump in food prices, a reminder of the economic pressure new central bank governor Raghuram Rajan faces ahead of his first policy meeting this week.
Government data on Monday showed a reading of 6.1 percent, higher than the 5.80 percent rate estimated by analysts in a Reuters poll. Food prices soared 18.18 percent.
The wholesale price index — India’s main inflation measure — rose an annual 5.79 percent in July.
The reading for June was revised to 5.16 percent from 4.86 percent, data released by the Ministry of Commerce and Industry showed.