India’s retail CPI rises strongly by 4.38% in June, beats 4.3% estimates

Sagar Dua FXStreet

India’s retail Consumer Price Index (CPI) rises at an annualized pace of 4.38% in June, stronger than 4.3% estimates and the previous reading of 3.93%.

Market reaction

No strong reaction is seen in the Indian Rupee (INR) following the release of the India's CPI data. At press time, USD/INR trades higher at around 95.60.

Economic Indicator

Consumer Price Index (YoY)

The India Consumer Price Index released by the Ministry of Statistics and Programme Implementation measures the average price change for all goods and services purchased by households for consumption purposes. CPI is the main indicator to measure inflation and changes in purchasing trends. A high reading is positive (or bullish) for the INR, while a low reading is negative (or bearish).

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