India's CPI accelerated to 4.38% YoY in June, above May's 3.93% and the
economists' median 4.20%, exceeding the Reserve Bank of India (RBI) 4% target
for the first time in 17 months but remaining inside the RBI's 2–6% tolerance
band. Policymakers said they remain vigilant. Recent price hikes by state-owned
retailers have kept retail fuel prices elevated. Renewed US‑Iran clashes after a
brief pause have revived market concerns about shipping through the Strait of
Hormuz.
