India June CPI Rises 4.38%, Beats 4.3% Estimate

India's consumer price index (CPI) rose at an annual pace of 4.38% in June, according to official data. The print came in above the market estimate of 4.3% and accelerated from the prior month's reading.

The stronger-than-expected inflation figure may reduce the likelihood of a near-term rate cut by the Reserve Bank of India (RBI), which has held its key repo rate steady amid persistent price pressures.

Markets will watch for the RBI's commentary in upcoming policy meetings for further clues on the inflation trajectory.