Controlled retail and core inflation in India are prompting some economists to push back expectations of any immediate interest rate hikes, reversing earlier calls for tighter policy to support the rupee and contain inflation.
Retail inflation rose to 4.38% in June, breaching the Reserve Bank of India's 4% target for the first time in 17 months, but averaged 3.9% in the April-June quarter. Core inflation was estimated at about 4% in June, economists said.
