According to a Reuters poll, India's retail inflation in July is expected to have reached 6.40%, breaching the upper limit of the Reserve Bank of India's tolerance band for the first time in five months. The surge in food prices is likely to continue for the next few weeks.
The forecast range was 4.85%-7.60%, with a strong three-quarters majority expecting it to surpass the central bank's top end of the inflation target band, suggesting the food price surge was likely to persist at least for the next few weeks.
A majority 86%, 24 of 28, economists who answered an additional question said inflation will stay above 6% by the end of the current quarter.
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