India's annual retail inflation in January rose above the central bank's upper threshold for the first time in three months, on higher food prices, vindicating last week's hawkish monetary policy stance.
by a quarter percentage point and surprised markets by leaving the door open to more tightening, saying core inflation remained high.
"The unexpectedly large jump in headline consumer price inflation in January to 6.5% y/y is a clear challenge to our view that the hiking cycle is at an end," Shilan Shah of Capital Economics said.India's core inflation in January was nearly flat at 6.09% to 6.10% from last month, according to two economists.
Household goods prices rose 6.2%, health and personal care products have registered high inflation of above 6%, Madan Sabnavis, economist at Bank of Baroda, said.
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