India's retail inflation breaches RBI’s midpoint target, rises to 4.38% in June
India's retail inflation rose to 4.38% in June, surpassing the Reserve Bank of India's (RBI) midpoint target of 4%, primarily due to increased food and fuel prices. Food inflation reached 5.32%, up from 4.78% in May, reflecting pressures from recent petrol and diesel price hikes. The RBI has revised its inflation projection to 5.1% and may maintain current policy rates at its August meeting, despite potential growth suppression from rising prices.