India's consumer inflation accelerated to 4.38% in June

Priyanka Salve at CNBC first reported the June reading, published by India's Ministry of Statistics and Programme Implementation on Monday. Consumer prices rose 4.38% against June 2025, up from 3.93% in May and above the 4.30% economists expected in a Reuters poll. Food prices, measured by the Consumer Food Price Index, rose 5.32%. Transport inflation reached 4.3%. That compares with 1.75% in May. The Reserve Bank of India held rates last month and forecast inflation of 5.1% for the financial year ending March 2027, with core inflation at 4.7%. India imports close to 85% of its fuel, and relies on the Strait of Hormuz for much of it. Hostilities between the United States and Iran resumed last week after a June ceasefire.